Convergence Investment Partners LLC Has $4.69 Million Stock Holdings in Altria Group, Inc. $MO

Convergence Investment Partners LLC cut its position in shares of Altria Group, Inc. (NYSE:MO) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 80,044 shares of the company’s stock after selling 8,039 shares during the quarter. Altria Group comprises 1.2% of Convergence Investment Partners LLC’s holdings, making the stock its 16th biggest position. Convergence Investment Partners LLC’s holdings in Altria Group were worth $4,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in Altria Group by 6.0% during the second quarter. Bessemer Group Inc. now owns 36,459 shares of the company’s stock worth $2,137,000 after buying an additional 2,049 shares in the last quarter. GoalVest Advisory LLC lifted its stake in Altria Group by 2.9% during the second quarter. GoalVest Advisory LLC now owns 28,734 shares of the company’s stock worth $1,685,000 after purchasing an additional 815 shares during the period. First Command Advisory Services Inc. lifted its stake in Altria Group by 6.4% during the second quarter. First Command Advisory Services Inc. now owns 3,466 shares of the company’s stock worth $203,000 after purchasing an additional 208 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in Altria Group by 1.1% during the second quarter. Ashton Thomas Private Wealth LLC now owns 42,399 shares of the company’s stock worth $2,529,000 after purchasing an additional 481 shares during the period. Finally, Delta Investment Management LLC lifted its stake in Altria Group by 13.9% during the second quarter. Delta Investment Management LLC now owns 7,259 shares of the company’s stock worth $426,000 after purchasing an additional 886 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Up 0.2%

NYSE:MO opened at $64.72 on Monday. Altria Group, Inc. has a 1 year low of $49.58 and a 1 year high of $68.60. The firm has a 50 day moving average of $65.76 and a 200-day moving average of $61.76. The stock has a market capitalization of $108.73 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 3.60 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, beating analysts’ consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. Altria Group’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.6%. This is a boost from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Friday. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a research note on Thursday, August 21st. Barclays raised their price target on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Finally, UBS Group upgraded shares of Altria Group from a “sell” rating to a “neutral” rating and raised their price target for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Altria Group has a consensus rating of “Hold” and an average price target of $62.11.

Altria Group Profile

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.