Altria Group, Inc. $MO Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its position in Altria Group, Inc. (NYSE:MO) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,468 shares of the company’s stock after purchasing an additional 8,968 shares during the period. Frank Rimerman Advisors LLC’s holdings in Altria Group were worth $3,956,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC acquired a new position in Altria Group during the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group in the second quarter worth $25,000. Carderock Capital Management Inc. purchased a new position in shares of Altria Group in the 2nd quarter valued at $26,000. Compass Financial Services Inc lifted its holdings in shares of Altria Group by 64.4% during the 1st quarter. Compass Financial Services Inc now owns 717 shares of the company’s stock valued at $43,000 after acquiring an additional 281 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in Altria Group during the 1st quarter worth $44,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MO shares. Morgan Stanley raised their price objective on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. UBS Group reduced their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Bank of America upped their price target on 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 price objective on shares of Altria Group in a research note on Thursday, August 21st. Finally, Barclays boosted their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.33.

Altria Group Trading Down 0.1%

Altria Group stock opened at $58.16 on Tuesday. The stock has a market cap of $97.62 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51. The stock has a 50 day moving average of $63.13 and a 200-day moving average of $61.86. Altria Group, Inc. has a 52 week low of $50.08 and a 52 week high of $68.60.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) 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 business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 7.3%. Altria Group’s dividend payout ratio is 80.92%.

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.