Cornerstone Wealth Group LLC Acquires 1,693 Shares of Altria Group, Inc. $MO

Cornerstone Wealth Group LLC grew its position in Altria Group, Inc. (NYSE:MO) by 2.1% in the second quarter, Holdings Channel reports. The fund owned 82,879 shares of the company’s stock after acquiring an additional 1,693 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Altria Group were worth $4,859,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Kellett Wealth Advisors LLC bought a new position in shares of Altria Group in the 2nd quarter valued at $222,000. Verdence Capital Advisors LLC lifted its stake in shares of Altria Group by 6.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 68,946 shares of the company’s stock valued at $4,042,000 after acquiring an additional 4,380 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Altria Group by 26.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 288,324 shares of the company’s stock valued at $16,904,000 after acquiring an additional 61,147 shares during the last quarter. Concord Asset Management LLC VA bought a new position in shares of Altria Group in the 2nd quarter valued at $529,000. Finally, RoundAngle Advisors LLC lifted its stake in shares of Altria Group by 2.9% in the 2nd quarter. RoundAngle Advisors LLC now owns 29,482 shares of the company’s stock valued at $1,729,000 after acquiring an additional 831 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Trading Down 2.4%

Shares of Altria Group stock opened at $64.92 on Tuesday. The business has a 50-day moving average price of $65.78 and a two-hundred day moving average price of $61.29. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60. The company has a market cap of $109.07 billion, a P/E ratio of 12.56, a PEG ratio of 3.70 and a beta of 0.55.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. During the same period last year, the business posted $1.31 EPS. The business’s revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was 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 82.01%.

Analyst Upgrades and Downgrades

MO has been the subject of a number of research reports. Bank of America increased their price target on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Stifel Nicolaus set a $72.00 price objective on Altria Group in a report on Thursday, August 21st. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and increased their price objective for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group began coverage on Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price objective for the company. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.11.

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.