Institute for Wealth Management LLC. Has $519,000 Stock Holdings in Altria Group, Inc. $MO

Institute for Wealth Management LLC. lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 13.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,852 shares of the company’s stock after purchasing an additional 1,032 shares during the period. Institute for Wealth Management LLC.’s holdings in Altria Group were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MO. Mattson Financial Services LLC acquired a new stake in shares of Altria Group during the first quarter worth $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group during the second quarter worth $25,000. Carderock Capital Management Inc. acquired a new stake in shares of Altria Group during the second quarter worth $26,000. Inlight Wealth Management LLC acquired a new stake in shares of Altria Group during the first quarter worth $31,000. Finally, Sierra Ocean LLC grew its holdings in shares of 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. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MO shares. Stifel Nicolaus set a $72.00 price target on Altria Group in a report on Thursday, August 21st. Barclays lifted their price target on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Morgan Stanley lifted their price target on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Bank of America lifted their price target on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Two 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. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and an average target price of $60.88.

Altria Group Price Performance

Shares of NYSE MO opened at $66.29 on Thursday. The business’s 50-day moving average price is $64.95 and its two-hundred day moving average price is $60.81. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The company has a market capitalization of $111.36 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 3.55 and a beta of 0.55.

Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.06 per share. This is a boost from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. Altria Group’s dividend payout ratio is currently 82.01%.

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.