Wellington Capital Management Inc. Buys New Stake in Altria Group, Inc. $MO

Key Points

• Wellington Capital Management Inc. has acquired a new stake in Altria Group, purchasing 5,626 shares valued at approximately $330,000 during the second quarter.
• Altria Group reported a quarterly earnings per share of $1.44, exceeding analyst expectations, and announced a dividend increase to $1.06 per share, yielding about 6.5%.
• Analysts have mixed ratings for Altria Group, with price targets ranging from $49.00 to $72.00, and an average target price of $62.11.

Wellington Capital Management Inc. purchased a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,626 shares of the company's stock, valued at approximately $330,000.

A number of other large investors also recently made changes to their positions in MO. Mattson Financial Services LLC purchased a new position in shares of Altria Group during the 1st quarter worth $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Altria Group during the 2nd quarter worth $25,000. Carderock Capital Management Inc. purchased a new position in shares of Altria Group during the 2nd quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of Altria Group during the 2nd quarter worth $27,000. Finally, Country Trust Bank lifted its stake in shares of Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company's stock worth $29,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

Shares of MO stock opened at $65.72 on Friday. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The company's 50-day simple moving average is $65.62 and its 200-day simple moving average is $61.13. The stock has a market capitalization of $110.40 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 3.52 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same quarter last year, the company posted $1.31 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be issued a $1.06 dividend. This is an increase from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's dividend payout ratio is 82.01%.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of recent analyst reports. Barclays increased their price target on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their price objective on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. The Goldman Sachs Group upped their price objective on Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group assumed coverage on Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Altria Group has an average rating of "Hold" and an average target price of $62.11.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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