Robertson Stephens Wealth Management LLC Reduces Holdings in Altria Group, Inc. $MO

Robertson Stephens Wealth Management LLC decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 23.6% during the second quarter, Holdings Channel.com reports. The fund owned 5,879 shares of the company’s stock after selling 1,813 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Altria Group were worth $351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MO. Brighton Jones LLC increased its holdings in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after buying an additional 6,954 shares during the period. GAMMA Investing LLC increased its holdings in Altria Group by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company’s stock worth $2,162,000 after buying an additional 5,440 shares during the period. Fifth Third Bancorp increased its holdings in Altria Group by 7.9% in the 1st quarter. Fifth Third Bancorp now owns 78,321 shares of the company’s stock worth $4,701,000 after buying an additional 5,764 shares during the period. Rockland Trust Co. acquired a new position in Altria Group in the 1st quarter worth approximately $271,000. Finally, NorthCrest Asset Manangement LLC increased its holdings in Altria Group by 88.5% in the 1st 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 during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO opened at $66.54 on Friday. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60. The firm has a market capitalization of $111.78 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 3.70 and a beta of 0.55. The business’s 50 day moving average price is $65.72 and its 200-day moving average price is $61.22.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same quarter last year, the firm posted $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. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were given a dividend of $1.06 per share. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. Altria Group’s payout ratio is 82.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a report on Thursday, August 21st. The Goldman Sachs Group increased their price target on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday. 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 research report on Friday, August 22nd. Finally, Barclays upped 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. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.11.

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.