Wellington Management Group LLP Boosts Stake in Altria Group, Inc. $MO

Key Points

• Wellington Management Group LLP increased its stake in Altria Group, Inc. by 21.0% in the first quarter, bringing its total holdings to 318,318 shares valued at approximately $19.1 million.
• Altria Group recently announced a quarterly dividend of $1.06 per share, reflecting a year-over-year increase from its previous dividend of $1.02, resulting in a yield of 6.3%.
• In its latest earnings report, Altria Group surpassed expectations with an earnings per share of $1.44, exceeding the consensus estimate by $0.07, and reported quarterly revenue of $5.29 billion.

Wellington Management Group LLP boosted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 21.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 318,318 shares of the company's stock after buying an additional 55,187 shares during the quarter. Wellington Management Group LLP's holdings in Altria Group were worth $19,105,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cornerstone Select Advisors LLC lifted its stake in Altria Group by 18.6% in the 1st quarter. Cornerstone Select Advisors LLC now owns 20,759 shares of the company's stock valued at $1,246,000 after buying an additional 3,254 shares in the last quarter. Korea Investment CORP lifted its stake in Altria Group by 52.7% in the 1st quarter. Korea Investment CORP now owns 1,231,195 shares of the company's stock valued at $73,896,000 after buying an additional 424,766 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in Altria Group by 8.7% in the 1st quarter. Aptus Capital Advisors LLC now owns 254,535 shares of the company's stock valued at $15,277,000 after buying an additional 20,479 shares in the last quarter. Brooklyn Investment Group lifted its stake in Altria Group by 12.6% in the 1st quarter. Brooklyn Investment Group now owns 8,920 shares of the company's stock valued at $535,000 after buying an additional 997 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC lifted its stake in shares of Altria Group by 19.4% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 7,222 shares of the company's stock worth $433,000 after purchasing an additional 1,171 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 0.8%

Shares of MO opened at $67.10 on Tuesday. The firm has a market capitalization of $112.72 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 3.64 and a beta of 0.59. The stock's fifty day simple moving average is $61.24 and its 200 day simple moving average is $58.95. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60.

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

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.3%. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's dividend payout ratio is 78.92%.

Analyst Upgrades and Downgrades

MO has been the topic of a number of recent analyst reports. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Bank of America increased their price target on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Stifel Nicolaus increased their price target on Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group initiated coverage on Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.00.

Altria Group Profile

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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