Raleigh Capital Management Inc. Lowers Holdings in Altria Group, Inc. $MO

Raleigh Capital Management Inc. decreased its holdings in Altria Group, Inc. (NYSE:MO) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,204 shares of the company’s stock after selling 193 shares during the period. Raleigh Capital Management Inc.’s holdings in Altria Group were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC lifted its holdings in shares of Altria Group by 88.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company’s stock worth $512,000 after buying an additional 4,007 shares in the last quarter. Central Valley Advisors LLC bought a new stake in Altria Group in the 2nd quarter valued at $1,715,000. Invst LLC lifted its stake in Altria Group by 252.0% in the 1st quarter. Invst LLC now owns 16,188 shares of the company’s stock worth $972,000 after purchasing an additional 11,589 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Altria Group by 17.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company’s stock valued at $63,676,000 after purchasing an additional 161,356 shares during the last quarter. Finally, Carr Financial Group Corp purchased a new position in shares of Altria Group during the second quarter valued at about $241,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 0.7%

NYSE MO opened at $66.10 on Wednesday. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60. The firm has a market capitalization of $111.04 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 3.53 and a beta of 0.59. The company has a fifty day moving average of $64.82 and a two-hundred day moving average of $60.77.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating 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 the consensus estimate of $5.21 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’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 research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on MO. Stifel Nicolaus set a $72.00 target price on Altria Group in a research report on Thursday, August 21st. Bank of America upped their price objective on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Barclays increased their target price on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. UBS Group upgraded shares of Altria Group from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. 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 note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.88.

Altria Group Company 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.