VIRGINIA RETIREMENT SYSTEMS ET Al Sells 38,400 Shares of Altria Group, Inc. $MO

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,118,700 shares of the company’s stock after selling 38,400 shares during the period. Altria Group accounts for 0.9% of VIRGINIA RETIREMENT SYSTEMS ET Al’s portfolio, making the stock its 12th largest position. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Altria Group were worth $139,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. Mattson Financial Services LLC bought a new position in shares of Altria Group in the 1st quarter worth $25,000. Global X Japan Co. Ltd. bought a new position in Altria Group during the second quarter worth about $25,000. Carderock Capital Management Inc. acquired a new position in Altria Group in the second quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Altria Group in the second quarter worth about $27,000. Finally, Country Trust Bank raised its position in shares of Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

NYSE MO opened at $57.75 on Wednesday. Altria Group, Inc. has a 52 week low of $50.08 and a 52 week high of $68.60. The stock’s 50 day moving average price is $58.89 and its two-hundred day moving average price is $61.67. The stock has a market capitalization of $96.95 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 3.27 and a beta of 0.48.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The company had revenue of $5.25 billion for 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 firm’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. On average, equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

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

Altria Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MO. UBS Group decreased their price objective on Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. The Goldman Sachs Group lifted their price target on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. 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 stock. Based on data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average price target of $62.33.

Altria Group Profile

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.