Fortune Financial Advisors LLC Grows Stock Position in Altria Group, Inc. $MO

Fortune Financial Advisors LLC increased its position in shares of Altria Group, Inc. (NYSE:MO) by 0.6% in the 2nd quarter, Holdings Channel reports. The firm owned 42,900 shares of the company’s stock after purchasing an additional 272 shares during the period. Altria Group accounts for approximately 2.0% of Fortune Financial Advisors LLC’s portfolio, making the stock its 15th largest position. Fortune Financial Advisors LLC’s holdings in Altria Group were worth $2,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new position in Altria Group during the first quarter worth about $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Altria Group in the second quarter valued at approximately $25,000. Carderock Capital Management Inc. purchased a new stake in shares of Altria Group in the second quarter valued at approximately $26,000. Sierra Ocean LLC increased its holdings in shares of Altria Group by 226.3% in the first quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock valued at $31,000 after purchasing an additional 353 shares during the last quarter. Finally, Inlight Wealth Management LLC purchased a new position in Altria Group during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

MO opened at $65.18 on Thursday. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The business has a 50-day moving average of $64.26 and a two-hundred day moving average of $60.56. The stock has a market capitalization of $109.49 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same period last year, the company earned $1.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities research analysts anticipate 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 will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s payout ratio is currently 82.01%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price for the company. Barclays upped their price objective on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. UBS Group raised shares of Altria Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a research note on Thursday, August 21st. Finally, Morgan Stanley raised their price target on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Two 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.88.

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.