Altria Group, Inc. $MO Shares Purchased by Strs Ohio

by · The Cerbat Gem

Strs Ohio lifted its position in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,443 shares of the company’s stock after acquiring an additional 31,713 shares during the quarter. Strs Ohio’s holdings in Altria Group were worth $31,217,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Jacobi Capital Management LLC boosted its stake in shares of Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock worth $1,581,000 after acquiring an additional 168 shares in the last quarter. Bar Harbor Wealth Management boosted its stake in shares of Altria Group by 3.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company’s stock worth $332,000 after acquiring an additional 169 shares in the last quarter. Parcion Private Wealth LLC boosted its stake in shares of Altria Group by 1.6% during the 2nd quarter. Parcion Private Wealth LLC now owns 11,172 shares of the company’s stock worth $655,000 after acquiring an additional 172 shares in the last quarter. Wealth Alliance LLC boosted its stake in shares of Altria Group by 1.9% during the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company’s stock worth $567,000 after acquiring an additional 174 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its stake in shares of Altria Group by 1.5% during the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company’s stock worth $723,000 after acquiring an additional 174 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America raised their price target 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. Barclays raised their price target on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Morgan Stanley raised their price target on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Jefferies Financial Group assumed coverage on shares of Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.11.

Read Our Latest Research Report on MO

Altria Group Price Performance

Shares of NYSE MO opened at $57.17 on Friday. The company has a 50 day simple moving average of $65.33 and a 200-day simple moving average of $61.86. The company has a market capitalization of $96.05 billion, a P/E ratio of 11.06, a P/E/G ratio of 3.45 and a beta of 0.55. Altria Group, Inc. has a 1 year low of $50.08 and a 1 year high of $68.60.

Altria Group (NYSE:MO – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were issued a dividend of $1.06 per share. The ex-dividend date was Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s payout ratio is 82.01%.

Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, October 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.

See Also

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).