Kingsview Wealth Management LLC Purchases 3,805 Shares of Altria Group, Inc. $MO

Kingsview Wealth Management LLC boosted its holdings in Altria Group, Inc. (NYSE:MO) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,641 shares of the company’s stock after purchasing an additional 3,805 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Altria Group were worth $5,197,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MO. Mattson Financial Services LLC acquired a new position in shares of Altria Group during the first quarter valued at about $25,000. Global X Japan Co. Ltd. bought a new position in Altria Group in the 2nd quarter valued at about $25,000. Carderock Capital Management Inc. acquired a new position in Altria Group during the 2nd quarter valued at about $26,000. Compass Financial Services Inc increased its holdings in Altria Group by 64.4% during the 1st quarter. Compass Financial Services Inc now owns 717 shares of the company’s stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Altria Group in the first quarter worth approximately $44,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

MO has been the topic of several analyst reports. Morgan Stanley lifted their target price on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. The Goldman Sachs Group raised their price objective on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. UBS Group lowered their target price on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, Bank of America raised their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.33.

Altria Group Price Performance

Shares of NYSE:MO opened at $58.16 on Tuesday. Altria Group, Inc. has a 1 year low of $50.08 and a 1 year high of $68.60. The company has a market capitalization of $97.62 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51. The business has a fifty day moving average price of $63.13 and a two-hundred day moving average price of $61.86.

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

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were paid a $1.06 dividend. The ex-dividend date was Monday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 7.3%. Altria Group’s dividend payout ratio (DPR) is currently 80.92%.

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

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.