Rehmann Capital Advisory Group Buys 990 Shares of Altria Group, Inc. $MO

Rehmann Capital Advisory Group lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 4.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,814 shares of the company’s stock after acquiring an additional 990 shares during the period. Rehmann Capital Advisory Group’s holdings in Altria Group were worth $1,396,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Dudley Capital Management LLC lifted its holdings in shares of Altria Group by 2.3% during the 2nd quarter. Dudley Capital Management LLC now owns 18,770 shares of the company’s stock worth $1,100,000 after acquiring an additional 420 shares during the last quarter. Parcion Private Wealth LLC lifted its holdings in shares of Altria Group by 1.6% during the 2nd quarter. Parcion Private Wealth LLC now owns 11,172 shares of the company’s stock worth $655,000 after acquiring an additional 172 shares during the last quarter. Members Trust Co bought a new stake in shares of Altria Group during the 2nd quarter worth $227,000. Denali Advisors LLC lifted its stake in Altria Group by 11.9% in the second quarter. Denali Advisors LLC now owns 137,962 shares of the company’s stock worth $8,089,000 after purchasing an additional 14,723 shares during the last quarter. Finally, Jacobsen Capital Management bought a new stake in Altria Group in the second quarter worth $201,000. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

Shares of NYSE MO opened at $64.35 on Thursday. Altria Group, Inc. has a 1 year low of $49.58 and a 1 year high of $68.60. The company’s 50-day moving average is $65.81 and its 200 day moving average is $61.56. The stock has a market capitalization of $108.10 billion, a P/E ratio of 12.45, a P/E/G ratio of 3.55 and a beta of 0.55.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. Altria Group’s quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were given a dividend of $1.06 per share. This is an increase from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Monday, September 15th. Altria Group’s dividend payout ratio is presently 82.01%.

Analysts Set New Price Targets

MO has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Jefferies Financial Group initiated coverage on shares of Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target for the company. The Goldman Sachs Group boosted 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. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a research note on Thursday, August 21st. Finally, Barclays upped their price objective on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Four investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.11.

About Altria Group

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.