Westmount Partners LLC Reduces Stock Position in Altria Group, Inc. $MO

Key Points

• Westmount Partners LLC reduced its position in Altria Group by 35.9%, now holding 12,258 shares valued at approximately $719,000.
• Altria Group has announced a quarterly dividend increase from $1.02 to $1.06, with a dividend yield of 6.5%.
• Analysts have mixed ratings for Altria Group, with a consensus rating of "Hold" and an average price target of $60.88.

Westmount Partners LLC cut its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 35.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,258 shares of the company's stock after selling 6,865 shares during the period. Westmount Partners LLC's holdings in Altria Group were worth $719,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its stake in shares of Altria Group by 0.6% in the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock valued at $1,581,000 after purchasing an additional 168 shares during the period. Vista Investment Partners II LLC lifted its stake in shares of Altria Group by 4.2% in the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock valued at $258,000 after purchasing an additional 174 shares during the period. Wealth Alliance LLC lifted its stake in shares of Altria Group by 1.9% in the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock valued at $567,000 after purchasing an additional 174 shares during the period. Patten & Patten Inc. TN lifted its stake in shares of Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock valued at $723,000 after purchasing an additional 174 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC lifted its stake in shares of Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock valued at $406,000 after purchasing an additional 175 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Down 2.7%

Shares of NYSE MO opened at $64.85 on Tuesday. The firm has a 50-day simple moving average of $63.38 and a 200-day simple moving average of $60.23. The stock has a market capitalization of $108.94 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week 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 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors 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 dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's payout ratio is currently 78.92%.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research analyst reports. UBS Group upgraded shares of 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 research report on Wednesday, July 2nd. Jefferies Financial Group initiated coverage on shares of Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research report on Thursday, August 21st. Finally, Bank of America upped their price objective on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Two equities 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 presently has a consensus rating of "Hold" and an average price target of $60.88.

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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