Center for Financial Planning Inc. Acquires 335 Shares of Altria Group, Inc. $MO

Center for Financial Planning Inc. raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.1% in the second quarter, HoldingsChannel reports. The firm owned 5,842 shares of the company’s stock after buying an additional 335 shares during the quarter. Center for Financial Planning Inc.’s holdings in Altria Group were worth $342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mattson Financial Services LLC bought a new position in Altria Group during the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. bought a new position in Altria Group during the 2nd quarter valued at approximately $25,000. Carderock Capital Management Inc. purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $26,000. Sierra Ocean LLC grew its holdings in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after acquiring an additional 353 shares during the period. Finally, TruNorth Capital Management LLC grew its holdings in shares of Altria Group by 51.8% during the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company’s stock worth $38,000 after acquiring an additional 217 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 1.2%

Altria Group stock opened at $56.45 on Friday. The company has a market capitalization of $94.83 billion, a P/E ratio of 10.92, a PEG ratio of 3.45 and a beta of 0.55. The stock’s 50 day moving average is $65.11 and its 200 day moving average is $61.86. Altria Group, Inc. has a twelve month low of $50.08 and a twelve month high of $68.60.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 7.5%. 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 currently 82.01%.

Altria Group announced that its board has authorized a stock repurchase program on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MO shares. Jefferies Financial Group started coverage on Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 target price on the stock. The Goldman Sachs Group upped their target price on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. UBS Group reduced their target price on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday. Morgan Stanley upped their target price on Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Finally, Bank of America upped their target price on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Four equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $62.33.

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.