1834 Investment Advisors Co. Sells 4,436 Shares of Altria Group, Inc. $MO

1834 Investment Advisors Co. cut its stake in Altria Group, Inc. (NYSE:MO) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,801 shares of the company’s stock after selling 4,436 shares during the period. Altria Group comprises about 1.0% of 1834 Investment Advisors Co.’s investment portfolio, making the stock its 28th largest position. 1834 Investment Advisors Co.’s holdings in Altria Group were worth $7,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock worth $1,581,000 after acquiring an additional 168 shares in the last quarter. Vista Investment Partners II LLC grew its holdings in Altria Group by 4.2% during the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company’s stock worth $258,000 after acquiring an additional 174 shares in the last quarter. Wealth Alliance LLC grew its holdings in Altria Group by 1.9% during the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company’s stock worth $567,000 after acquiring an additional 174 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in Altria Group by 1.5% during the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company’s stock worth $723,000 after acquiring an additional 174 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its holdings in Altria Group by 2.7% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company’s stock worth $406,000 after acquiring an additional 175 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. Barclays increased their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Morgan Stanley increased their target price on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Bank of America increased their target price on shares of Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a report on Thursday, August 21st. Finally, Jefferies Financial Group assumed coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $60.88.

Altria Group Stock Performance

NYSE:MO opened at $65.67 on Friday. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The stock has a market capitalization of $110.32 billion, a P/E ratio of 12.70, a P/E/G ratio of 3.51 and a beta of 0.59. The company’s 50-day simple moving average is $64.55 and its 200-day simple moving average is $60.65.

Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same period last year, the business earned $1.31 EPS. The company’s revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be given a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s 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.