Perigon Wealth Management LLC Has $3.15 Million Position in Altria Group, Inc. $MO

Perigon Wealth Management LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,682 shares of the company’s stock after purchasing an additional 2,392 shares during the quarter. Perigon Wealth Management LLC’s holdings in Altria Group were worth $3,147,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MO. GQG Partners LLC boosted its stake in Altria Group by 8,146.4% in the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock valued at $1,122,290,000 after buying an additional 18,471,846 shares in the last quarter. Nuveen LLC bought a new stake in shares of Altria Group during the first quarter worth $219,141,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Altria Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Altria Group by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock worth $717,913,000 after purchasing an additional 3,415,237 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Altria Group by 111.3% during the first quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock worth $333,606,000 after purchasing an additional 2,928,006 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

NYSE:MO opened at $65.67 on Friday. The stock has a 50-day simple moving average of $64.55 and a 200 day simple moving average of $60.65. The company has a market cap of $110.32 billion, a PE ratio of 12.70, a PEG ratio of 3.51 and a beta of 0.59. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be paid a $1.06 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Monday, September 15th. Altria Group’s dividend payout ratio is 82.01%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MO. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Bank of America increased 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. Stifel Nicolaus set a $72.00 price objective on Altria Group in a report on Thursday, August 21st. Jefferies Financial Group started coverage on Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price objective for the company. Finally, Barclays increased their price objective on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and an average 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.