Harbour Investments Inc. Sells 450 Shares of Altria Group, Inc. $MO

Harbour Investments Inc. reduced its stake in shares of Altria Group, Inc. (NYSE:MO) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,284 shares of the company’s stock after selling 450 shares during the quarter. Harbour Investments Inc.’s holdings in Altria Group were worth $3,300,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in Altria Group in the 1st quarter valued at about $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $25,000. Carderock Capital Management Inc. bought a new position in Altria Group in the second quarter valued at approximately $26,000. Inlight Wealth Management LLC acquired a new position in Altria Group during the first quarter valued at approximately $31,000. Finally, Sierra Ocean LLC lifted its position 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 buying an additional 353 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

MO has been the topic of a number of research analyst reports. UBS Group upgraded shares of Altria Group from a “sell” rating to a “neutral” rating and raised their target price for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Bank of America boosted their price target on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a report on Thursday, August 21st. Barclays lifted their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley upped their price target on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.11.

Altria Group Stock Performance

NYSE:MO opened at $64.91 on Thursday. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The company has a 50 day simple moving average of $65.87 and a two-hundred day simple moving average of $61.34. The company has a market capitalization of $109.04 billion, a PE ratio of 12.56, a P/E/G ratio of 3.64 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter in the previous year, the company earned $1.31 EPS. The company’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. Research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

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

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.