D.A. Davidson & CO. Purchases 11,537 Shares of Altria Group, Inc. $MO

D.A. Davidson & CO. lifted its position in Altria Group, Inc. (NYSE:MO) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 368,861 shares of the company’s stock after buying an additional 11,537 shares during the period. D.A. Davidson & CO.’s holdings in Altria Group were worth $24,367,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in shares of Altria Group in the first quarter worth about $25,000. Global X Japan Co. Ltd. acquired a new position in shares of Altria Group in the 2nd quarter valued at approximately $25,000. Carderock Capital Management Inc. bought a new stake in Altria Group during the 2nd quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new stake in Altria Group during the 2nd quarter worth approximately $27,000. Finally, Country Trust Bank raised its holdings in Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Trading Down 0.6%

Shares of MO stock opened at $57.32 on Monday. The firm’s fifty day moving average price is $58.47 and its two-hundred day moving average price is $61.64. Altria Group, Inc. has a 1 year low of $50.08 and a 1 year high of $68.60. The firm has a market capitalization of $96.22 billion, a P/E ratio of 10.94, a PEG ratio of 3.18 and a beta of 0.47.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a net margin of 37.89% and a negative return on equity of 319.43%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, December 26th. Altria Group’s dividend payout ratio (DPR) is currently 80.92%.

Altria Group declared that its board has authorized a stock 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 often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MO. The Goldman Sachs Group increased their price objective on shares of 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 reiterated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Finally, UBS Group cut their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.