Altria Group, Inc. $MO Holdings Lifted by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its position in shares of Altria Group, Inc. (NYSE:MO) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,682 shares of the company’s stock after buying an additional 2,392 shares during the quarter. Perigon Wealth Management LLC’s holdings in Altria Group were worth $3,147,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mattson Financial Services LLC bought a new position in Altria Group during the first quarter valued at about $25,000. Global X Japan Co. Ltd. purchased a new position in Altria Group in the 2nd quarter worth about $25,000. Carderock Capital Management Inc. acquired a new stake in Altria Group during the 2nd quarter worth about $26,000. Sierra Ocean LLC lifted its stake in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock valued at $31,000 after buying an additional 353 shares in the last quarter. Finally, Inlight Wealth Management LLC purchased a new stake in Altria Group during the first quarter valued at about $31,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of Altria Group stock opened at $65.67 on Friday. The firm has a market cap of $110.32 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 3.51 and a beta of 0.59. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60. The stock has a 50-day simple moving average of $64.55 and a 200-day simple moving average of $60.65.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. The business had revenue of $5.29 billion during 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%.The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.06 per share. The ex-dividend date is Monday, September 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio is presently 82.01%.

Analysts Set New Price Targets

MO has been the subject of a number of analyst reports. Morgan Stanley upped their price objective 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. UBS Group raised shares of Altria Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Jefferies Financial Group initiated coverage on shares of Altria Group in a research note on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price objective for the company. Barclays upped their price objective 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. Finally, Bank of America upped their price objective on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Two 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.88.

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.