Sigma Planning Corp Sells 7,062 Shares of Altria Group, Inc. $MO

Sigma Planning Corp decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,903 shares of the company’s stock after selling 7,062 shares during the period. Sigma Planning Corp’s holdings in Altria Group were worth $3,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC bought a new stake in shares of Altria Group during the 1st quarter valued at $25,000. Global X Japan Co. Ltd. bought a new stake in shares of Altria Group during the 2nd quarter valued at $25,000. Carderock Capital Management Inc. bought a new stake in shares of Altria Group during the 2nd quarter valued at $26,000. TruNorth Capital Management LLC grew its position in shares of Altria Group by 51.8% during the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company’s stock valued at $38,000 after acquiring an additional 217 shares during the period. Finally, Abound Financial LLC bought a new stake in shares of Altria Group during the 1st quarter valued at $40,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Altria Group stock opened at $56.63 on Tuesday. Altria Group, Inc. has a 1-year low of $50.08 and a 1-year high of $68.60. The firm has a market capitalization of $95.13 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 3.45 and a beta of 0.55. The company’s 50-day moving average is $64.90 and its 200 day moving average is $61.91.

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

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

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 given 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 dividend on an annualized basis and a yield of 7.5%. Altria Group’s dividend payout ratio is currently 80.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Stifel Nicolaus set a $72.00 price objective on Altria Group in a research note on Thursday, August 21st. Jefferies Financial Group initiated coverage on Altria Group in a research note on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price objective on the stock. UBS Group reduced their price objective on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group boosted their price objective on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average price target of $62.33.

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.