Altria Group, Inc. $MO Shares Sold by Wheelhouse Advisory Group LLC

Wheelhouse Advisory Group LLC lessened its holdings in shares of Altria Group, Inc. (NYSE:MO) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,709 shares of the company’s stock after selling 248 shares during the period. Wheelhouse Advisory Group LLC’s holdings in Altria Group were worth $276,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in Altria Group during the first quarter worth approximately $25,000. Global X Japan Co. Ltd. acquired a new position in Altria Group during the second quarter worth approximately $25,000. Carderock Capital Management Inc. acquired a new position in Altria Group during the second quarter worth approximately $26,000. Inlight Wealth Management LLC acquired a new position in Altria Group during the first quarter worth approximately $31,000. Finally, Sierra Ocean LLC increased its position in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after buying an additional 353 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America lifted their price target on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Saturday, September 27th. Jefferies Financial Group started 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. Barclays lifted their target price on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group lifted their target price on 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $62.11.

Altria Group Price Performance

MO opened at $66.64 on Wednesday. The business has a 50 day simple moving average of $65.46 and a 200-day simple moving average of $61.04. The stock has a market capitalization of $111.94 billion, a P/E ratio of 12.89, a P/E/G ratio of 3.52 and a beta of 0.55. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be issued a dividend of $1.06 per share. This is a boost from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group’s payout ratio is presently 82.01%.

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.