Axxcess Wealth Management LLC Has $2.09 Million Stock Position in Altria Group, Inc. $MO

Axxcess Wealth Management LLC lowered its position in shares of Altria Group, Inc. (NYSE:MO) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,648 shares of the company’s stock after selling 2,231 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Altria Group were worth $2,090,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Group LLC boosted its position in Altria Group by 2.1% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 82,879 shares of the company’s stock worth $4,859,000 after acquiring an additional 1,693 shares during the last quarter. Kellett Wealth Advisors LLC acquired a new position in Altria Group during the 2nd quarter worth approximately $222,000. Verdence Capital Advisors LLC boosted its position in Altria Group by 6.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 68,946 shares of the company’s stock worth $4,042,000 after acquiring an additional 4,380 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Altria Group by 26.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 288,324 shares of the company’s stock worth $16,904,000 after acquiring an additional 61,147 shares during the last quarter. Finally, Concord Asset Management LLC VA acquired a new position in Altria Group during the 2nd quarter worth approximately $529,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Trading Down 0.7%

MO opened at $64.91 on Thursday. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60. The stock’s fifty day simple moving average is $65.87 and its 200 day simple moving average is $61.34. The stock has a market cap of $109.04 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 3.64 and a beta of 0.55.

Altria Group (NYSE:MO) last posted 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. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.5%. The ex-dividend date was Monday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio (DPR) is 82.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MO shares. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. UBS Group raised 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. Morgan Stanley increased their price objective on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Finally, Barclays increased their price objective on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.