Tcfg Wealth Management LLC Cuts Holdings in Altria Group, Inc. $MO

Tcfg Wealth Management LLC reduced its holdings in Altria Group, Inc. (NYSE:MO) by 22.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,558 shares of the company’s stock after selling 2,128 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Altria Group were worth $443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Country Club Bank raised its position in Altria Group by 16.9% in the second quarter. Country Club Bank now owns 5,540 shares of the company’s stock worth $325,000 after acquiring an additional 800 shares in the last quarter. SteelPeak Wealth LLC boosted its position in shares of Altria Group by 248.8% during the 2nd quarter. SteelPeak Wealth LLC now owns 171,471 shares of the company’s stock worth $10,226,000 after purchasing an additional 122,314 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its stake in shares of Altria Group by 42.3% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 10,650 shares of the company’s stock worth $624,000 after purchasing an additional 3,164 shares during the period. Belpointe Asset Management LLC increased its holdings in shares of Altria Group by 2.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 54,651 shares of the company’s stock valued at $3,204,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Valley National Advisers Inc. increased its holdings in shares of Altria Group by 25.3% in the 2nd quarter. Valley National Advisers Inc. now owns 61,563 shares of the company’s stock valued at $3,608,000 after purchasing an additional 12,434 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Barclays boosted their price target on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Jefferies Financial Group started coverage on Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price objective for the company. Finally, Bank of America upped their target price on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $62.11.

Altria Group Price Performance

Shares of MO opened at $65.36 on Tuesday. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60. The stock has a market cap of $109.80 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 3.53 and a beta of 0.55. The firm has a 50 day simple moving average of $65.32 and a 200-day simple moving average of $61.00.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.Altria Group’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

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