Chemung Canal Trust Co. Cuts Stock Holdings in Altria Group, Inc. $MO

Chemung Canal Trust Co. reduced its stake in Altria Group, Inc. (NYSE:MO) by 49.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,142 shares of the company’s stock after selling 6,850 shares during the quarter. Chemung Canal Trust Co.’s holdings in Altria Group were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. NorthCrest Asset Manangement LLC lifted its stake in Altria Group by 88.5% during the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company’s stock worth $512,000 after purchasing an additional 4,007 shares during the last quarter. Central Valley Advisors LLC bought a new stake in Altria Group in the 2nd quarter worth approximately $1,715,000. Invst LLC lifted its position in Altria Group by 252.0% in the 1st quarter. Invst LLC now owns 16,188 shares of the company’s stock worth $972,000 after buying an additional 11,589 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Altria Group by 17.4% in the second quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company’s stock worth $63,676,000 after buying an additional 161,356 shares in the last quarter. Finally, Carr Financial Group Corp bought a new position in Altria Group during the second quarter valued at approximately $241,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $65.70 on Friday. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The firm has a market cap of $110.38 billion, a P/E ratio of 12.71, a P/E/G ratio of 3.53 and a beta of 0.55. The business’s 50 day moving average price is $65.19 and its 200-day moving average price is $60.93.

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 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 business 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 business posted $1.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities analysts predict 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. Shareholders of record on Monday, September 15th will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.5%. This is a boost from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. Altria Group’s dividend payout ratio (DPR) is 82.01%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MO. UBS Group upgraded shares of Altria Group from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Saturday, September 27th. 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. Stifel Nicolaus set a $72.00 target price on Altria Group in a research note on Thursday, August 21st. Finally, Morgan Stanley increased their target price on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Four 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.11.

Altria Group Company 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.