Y Intercept Hong Kong Ltd Purchases Shares of 116,638 Altria Group, Inc. $MO

by · The Cerbat Gem

Y Intercept Hong Kong Ltd purchased a new stake in Altria Group, Inc. (NYSE:MO – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 116,638 shares of the company’s stock, valued at approximately $6,838,000.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target for the company. UBS Group upgraded shares of Altria Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. 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 report on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Four investment 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 stock has an average rating of “Hold” and a consensus price target of $62.11.

Check Out Our Latest Analysis on Altria Group

Altria Group Stock Down 1.5%

Shares of NYSE:MO opened at $63.71 on Tuesday. The stock has a market cap of $107.03 billion, a PE ratio of 12.32, a PEG ratio of 3.60 and a beta of 0.55. The company’s fifty day moving average is $65.72 and its 200 day moving average is $61.81. Altria Group, Inc. has a 52 week low of $49.73 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, topping analysts’ consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion for 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 firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Sell-side analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Monday, September 15th. This is a boost from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio is 82.01%.

About Altria Group

(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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