XML Financial LLC Sells 22,669 Shares of Altria Group, Inc. $MO

Key Points

• XML Financial LLC has significantly reduced its stake in Altria Group, Inc. by 61.1%, selling 22,669 shares during the second quarter, resulting in ownership of 14,405 shares valued at approximately $845,000.
• Altria Group has raised its quarterly dividend to $1.06, representing a 6.4% yield and an increase from the previous dividend of $1.02, with the dividend payout ratio currently at 82.01%.
• Recent analysts' reports have set new price targets for Altria Group's stock, with Bank of America raising its target from $64.00 to $72.00 and the stock receiving an average rating of "Hold."

XML Financial LLC reduced its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 61.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,405 shares of the company's stock after selling 22,669 shares during the quarter. XML Financial LLC's holdings in Altria Group were worth $845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC boosted its stake in Altria Group by 88.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock valued at $512,000 after acquiring an additional 4,007 shares during the last quarter. Central Valley Advisors LLC bought a new position in Altria Group in the second quarter valued at approximately $1,715,000. Invst LLC boosted its stake in Altria Group by 252.0% in the first quarter. Invst LLC now owns 16,188 shares of the company's stock valued at $972,000 after acquiring an additional 11,589 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Altria Group by 17.4% in the second quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company's stock valued at $63,676,000 after acquiring an additional 161,356 shares during the last quarter. Finally, Carr Financial Group Corp bought a new position in Altria Group in the second quarter valued at approximately $241,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Up 0.7%

Shares of NYSE:MO opened at $66.10 on Wednesday. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The company's fifty day simple moving average is $64.82 and its 200 day simple moving average is $60.77. The firm has a market cap of $111.04 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 3.53 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $5.21 billion. During the same period last year, the business posted $1.31 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.4%. The ex-dividend date is Monday, September 15th. This is an increase from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend payout ratio (DPR) is presently 82.01%.

Analysts Set New Price Targets

MO has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a report on Thursday, August 21st. Jefferies Financial Group started coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price on the stock. Morgan Stanley increased their target price on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Barclays increased their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.88.

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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