Seneca House Advisors Sells 11,896 Shares of Altria Group, Inc. $MO

Seneca House Advisors trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,900 shares of the company’s stock after selling 11,896 shares during the period. Altria Group makes up about 2.9% of Seneca House Advisors’ investment portfolio, making the stock its 12th biggest position. Seneca House Advisors’ holdings in Altria Group were worth $7,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mattson Financial Services LLC acquired a new position in Altria Group during the 1st quarter worth $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group in the 2nd quarter valued at $25,000. Carderock Capital Management Inc. bought a new stake in shares of Altria Group during the second quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in shares of Altria Group during the second quarter valued at $27,000. Finally, Country Trust Bank lifted its stake in shares of Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE MO opened at $58.17 on Friday. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60. The stock has a market cap of $97.65 billion, a P/E ratio of 11.10, a P/E/G ratio of 3.30 and a beta of 0.48. The firm has a 50 day moving average price of $59.77 and a 200 day moving average price of $61.71.

Altria Group (NYSE:MO) last posted 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 net margin of 37.89% and a negative return on equity of 319.43%. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the business posted $1.38 earnings per share. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. Analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group announced that its board has approved a share buyback program on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be issued a dividend of $1.06 per share. The ex-dividend date is Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 7.3%. Altria Group’s payout ratio is currently 80.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MO. The Goldman Sachs Group lifted their price objective on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Finally, UBS Group reduced their price objective on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group currently has a consensus rating of “Hold” and an average target price of $62.33.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.