Envestnet Asset Management Inc. Sells 743,003 Shares of Altria Group, Inc. $MO

by · The Cerbat Gem

Envestnet Asset Management Inc. reduced its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 19.1% in the second quarter, HoldingsChannel.com reports. The firm owned 3,142,942 shares of the company’s stock after selling 743,003 shares during the period. Envestnet Asset Management Inc.’s holdings in Altria Group were worth $184,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Altria Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 158,117,225 shares of the company’s stock worth $9,490,196,000 after purchasing an additional 1,300,787 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Altria Group by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares in the last quarter. GQG Partners LLC increased its holdings in Altria Group by 8,146.4% during the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock worth $1,122,290,000 after purchasing an additional 18,471,846 shares in the last quarter. Invesco Ltd. increased its holdings in Altria Group by 3.7% during the 1st quarter. Invesco Ltd. now owns 12,243,041 shares of the company’s stock worth $734,827,000 after purchasing an additional 441,083 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Altria Group by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock worth $717,913,000 after purchasing an additional 3,415,237 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Trading Down 1.5%

Altria Group stock opened at $63.71 on Tuesday. Altria Group, Inc. has a 12 month low of $49.73 and a 12 month high of $68.60. The business’s 50 day simple moving average is $65.72 and its 200 day simple moving average is $61.81. The company has a market cap of $107.03 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 3.60 and a beta of 0.55.

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

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were paid a $1.06 dividend. The ex-dividend date was Monday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.7%. Altria Group’s dividend payout ratio (DPR) is currently 82.01%.

Analysts Set New Price Targets

A number of analysts have commented on the company. The Goldman Sachs Group boosted 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. Bank of America boosted their target price on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price on the stock. Four 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.11.

Check Out Our Latest Stock Report on Altria Group

Altria Group Profile

(Free Report)

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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