MGO One Seven LLC Raises Holdings in Altria Group, Inc. $MO

MGO One Seven LLC grew its stake in Altria Group, Inc. (NYSE:MO) by 11.9% during the second quarter, HoldingsChannel reports. The fund owned 53,503 shares of the company’s stock after acquiring an additional 5,686 shares during the quarter. MGO One Seven LLC’s holdings in Altria Group were worth $3,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GQG Partners LLC grew its stake in Altria Group by 8,146.4% in the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock valued at $1,122,290,000 after purchasing an additional 18,471,846 shares during the last quarter. Nuveen LLC purchased a new position in shares of Altria Group in the 1st quarter worth approximately $219,141,000. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock worth $3,798,592,000 after buying an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Altria Group by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock worth $717,913,000 after purchasing an additional 3,415,237 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Altria Group by 111.3% in the first quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock worth $333,606,000 after purchasing an additional 2,928,006 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MO has been the topic of several analyst reports. Morgan Stanley lifted their price target 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. The Goldman Sachs Group boosted their price target on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $72.00 price target on Altria Group in a research note on Thursday, August 21st. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Finally, Barclays upped their price target on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and an average target price of $62.11.

Altria Group Stock Performance

Altria Group stock opened at $64.92 on Tuesday. The business’s 50-day simple moving average is $65.78 and its two-hundred day simple moving average is $61.29. The company has a market cap of $109.07 billion, a PE ratio of 12.56, a PEG ratio of 3.70 and a beta of 0.55. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60.

Altria Group (NYSE:MO) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.Altria Group’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were issued a $1.06 dividend. This is an increase from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. Altria Group’s payout ratio is currently 82.01%.

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.