Institute for Wealth Management LLC. Buys 1,032 Shares of Altria Group, Inc. $MO

Institute for Wealth Management LLC. lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 13.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,852 shares of the company’s stock after acquiring an additional 1,032 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Altria Group were worth $519,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MO. Mattson Financial Services LLC acquired a new position in shares of Altria Group during the 1st quarter worth about $25,000. Global X Japan Co. Ltd. acquired a new position in shares of Altria Group during the 2nd quarter worth about $25,000. Carderock Capital Management Inc. acquired a new position in shares of Altria Group during the 2nd quarter worth about $26,000. Inlight Wealth Management LLC acquired a new position in shares of Altria Group during the 1st quarter worth about $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 purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Up 0.3%

Altria Group stock opened at $66.29 on Thursday. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The business has a 50 day moving average price of $64.95 and a two-hundred day moving average price of $60.81. The stock has a market cap of $111.36 billion, a price-to-earnings 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 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 negative return on equity of 295.26% and a net margin of 37.24%.The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.21 billion. During the same period in the prior year, the firm posted $1.31 EPS. Altria Group’s quarterly revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s payout ratio is currently 82.01%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MO shares. Barclays boosted their price objective on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Bank of America boosted their price objective on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Jefferies Financial Group began coverage on Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target for the company. Morgan Stanley upped their price target on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus set a $72.00 price target on Altria Group in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus 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.