Legend Financial Advisors Inc. Invests $59,000 in Altria Group, Inc. $MO

Legend Financial Advisors Inc. acquired a new stake in shares of Altria Group, Inc. (NYSE:MO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,000 shares of the company’s stock, valued at approximately $59,000.

A number of other large investors have also bought and sold shares of MO. NorthCrest Asset Manangement LLC boosted 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 valued at $512,000 after buying an additional 4,007 shares during the period. Invst LLC lifted its position in Altria Group by 252.0% in the 1st quarter. Invst LLC now owns 16,188 shares of the company’s stock valued at $972,000 after acquiring an additional 11,589 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. Exchange Traded Concepts LLC boosted its stake in Altria Group by 17.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company’s stock worth $63,676,000 after purchasing an additional 161,356 shares during the period. Finally, Carr Financial Group Corp bought a new position in Altria Group during the 2nd quarter worth about $241,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Up 0.1%

NYSE:MO opened at $65.20 on Friday. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60. The firm has a market capitalization of $109.53 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The stock’s 50 day moving average price is $64.40 and its two-hundred day moving average price is $60.60.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter in the prior year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, 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 given a $1.06 dividend. This is a boost from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. Altria Group’s payout ratio is 82.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MO. UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Stifel Nicolaus set a $72.00 target price on Altria Group in a research note on Thursday, August 21st. 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 research note on Thursday, July 31st. Barclays lifted 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. Finally, Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 target price for the company. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.