Altria Group, Inc. $MO Holdings Reduced by Park Place Capital Corp

Park Place Capital Corp decreased its position in Altria Group, Inc. (NYSE:MO) by 74.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 657 shares of the company’s stock after selling 1,875 shares during the period. Park Place Capital Corp’s holdings in Altria Group were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. Jacobi Capital Management LLC increased its stake in shares of Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock worth $1,581,000 after purchasing an additional 168 shares during the last quarter. Vista Investment Partners II LLC increased its stake in shares of Altria Group by 4.2% during the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company’s stock worth $258,000 after purchasing an additional 174 shares during the last quarter. Wealth Alliance LLC increased its stake in shares of Altria Group by 1.9% during the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company’s stock worth $567,000 after purchasing an additional 174 shares during the last quarter. Patten & Patten Inc. TN increased its stake in shares of Altria Group by 1.5% during the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company’s stock worth $723,000 after purchasing an additional 174 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its stake in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company’s stock valued at $406,000 after buying an additional 175 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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 note on Wednesday, July 2nd. Jefferies Financial Group initiated coverage on shares of Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price on the stock. Morgan Stanley raised their target price 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. Barclays raised their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research note on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus price target of $60.88.

Altria Group Price Performance

Shares of Altria Group stock opened at $66.29 on Thursday. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The firm has a fifty day moving average price of $64.95 and a two-hundred day moving average price of $60.81. The company has a market cap of $111.36 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 3.55 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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.21 billion. During the same period in the prior year, the firm earned $1.31 EPS. The business’s revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Analysts expect 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 issued 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 yield of 6.4%. Altria Group’s payout ratio is currently 82.01%.

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.