Quent Capital LLC Acquires 786 Shares of Altria Group, Inc. $MO

Quent Capital LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 22.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,275 shares of the company’s stock after purchasing an additional 786 shares during the period. Quent Capital LLC’s holdings in Altria Group were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC raised its position in Altria Group by 0.6% in the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock valued at $1,581,000 after buying an additional 168 shares during the last quarter. Vista Investment Partners II LLC raised its position in Altria Group by 4.2% in the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company’s stock valued at $258,000 after buying an additional 174 shares during the last quarter. Wealth Alliance LLC raised its position in Altria Group by 1.9% in the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company’s stock valued at $567,000 after buying an additional 174 shares during the last quarter. Patten & Patten Inc. TN raised its position in Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company’s stock valued at $723,000 after buying an additional 174 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC raised its position in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company’s stock valued at $406,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $65.70 on Friday. The stock’s fifty day moving average price is $65.19 and its two-hundred day moving average price is $60.93. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The firm has a market cap of $110.38 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 3.53 and a beta of 0.55.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the firm posted $1.31 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Altria Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MO. Bank of America lifted their target price on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Morgan Stanley upped their price objective on Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. 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. Stifel Nicolaus set a $72.00 price objective on Altria Group in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group upped 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. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.11.

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.