Illinois Municipal Retirement Fund Increases Stake in Altria Group, Inc. $MO

Illinois Municipal Retirement Fund increased its position in Altria Group, Inc. (NYSE:MO) by 85.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 712,415 shares of the company’s stock after buying an additional 327,429 shares during the quarter. Altria Group accounts for approximately 0.6% of Illinois Municipal Retirement Fund’s holdings, making the stock its 20th biggest holding. Illinois Municipal Retirement Fund’s holdings in Altria Group were worth $41,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MO. Mattson Financial Services LLC bought a new stake in Altria Group in the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. bought a new stake in shares of Altria Group in the second quarter worth about $25,000. Carderock Capital Management Inc. purchased a new stake in Altria Group during the second quarter valued at $26,000. TruNorth Capital Management LLC grew its position in Altria Group by 51.8% in the first quarter. TruNorth Capital Management LLC now owns 636 shares of the company’s stock worth $38,000 after acquiring an additional 217 shares in the last quarter. Finally, Compass Financial Services Inc lifted its holdings in shares of Altria Group by 64.4% in the 1st quarter. Compass Financial Services Inc now owns 717 shares of the company’s stock worth $43,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 1.3%

NYSE:MO opened at $58.02 on Monday. Altria Group, Inc. has a twelve month low of $50.08 and a twelve month high of $68.60. The firm has a 50-day moving average price of $64.16 and a two-hundred day moving average price of $61.89. The company has a market capitalization of $97.40 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $1.38 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. On average, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group announced that its Board of Directors has initiated a share repurchase program on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 7.3%. The ex-dividend date was Monday, September 15th. This is a boost from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio is 80.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group reduced their price objective on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Bank of America boosted their price target on shares of Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Four 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. According to MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $62.33.

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.