AlTi Global Inc. Trims Holdings in Altria Group, Inc. $MO

AlTi Global Inc. reduced its holdings in shares of Altria Group, Inc. (NYSE:MO) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,141 shares of the company’s stock after selling 4,724 shares during the quarter. AlTi Global Inc.’s holdings in Altria Group were worth $5,778,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. Brighton Jones LLC boosted its stake in shares of Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after buying an additional 6,954 shares during the last quarter. GAMMA Investing LLC lifted its stake in Altria Group by 17.8% during the first quarter. GAMMA Investing LLC now owns 36,028 shares of the company’s stock worth $2,162,000 after purchasing an additional 5,440 shares during the last quarter. Golden State Equity Partners lifted its stake in Altria Group by 5.0% during the first quarter. Golden State Equity Partners now owns 11,635 shares of the company’s stock worth $698,000 after purchasing an additional 549 shares during the last quarter. Spire Wealth Management lifted its stake in Altria Group by 0.8% during the first quarter. Spire Wealth Management now owns 29,056 shares of the company’s stock worth $1,744,000 after purchasing an additional 239 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Altria Group by 130.9% during the first quarter. Golden State Wealth Management LLC now owns 12,837 shares of the company’s stock worth $771,000 after purchasing an additional 7,278 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price objective on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised their price objective on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Bank of America raised their price objective on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $62.11.

Altria Group Price Performance

Shares of NYSE MO opened at $64.62 on Friday. Altria Group, Inc. has a 1-year low of $49.58 and a 1-year high of $68.60. The business’s fifty day moving average price is $65.79 and its two-hundred day moving average price is $61.62. The firm has a market capitalization of $108.55 billion, a PE ratio of 12.50, a P/E/G ratio of 3.58 and a beta of 0.55.

Altria Group (NYSE:MO) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate 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 period last year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

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

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.