Robertson Stephens Wealth Management LLC Cuts Stake in Altria Group, Inc. $MO

Robertson Stephens Wealth Management LLC reduced its stake in shares of Altria Group, Inc. (NYSE:MO) by 23.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,879 shares of the company’s stock after selling 1,813 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Altria Group were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new position in shares of Altria Group in the first quarter valued at $25,000. Global X Japan Co. Ltd. purchased a new position in Altria Group during the second quarter worth $25,000. Carderock Capital Management Inc. purchased a new position in Altria Group during the second quarter worth $26,000. Sierra Ocean LLC boosted its stake in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after buying an additional 353 shares during the period. Finally, Inlight Wealth Management LLC purchased a new position in Altria Group during the first quarter worth $31,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MO shares. Barclays lifted their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Morgan Stanley lifted their price objective on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research note on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, UBS Group raised shares of Altria Group from a “sell” rating to a “neutral” rating and boosted their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.11.

Altria Group Stock Up 1.2%

Shares of MO stock opened at $66.54 on Friday. The firm has a market cap of $111.78 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 3.70 and a beta of 0.55. The company’s 50 day moving average is $65.72 and its 200 day moving average is $61.22. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60.

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

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were paid a dividend of $1.06 per share. The ex-dividend date was Monday, September 15th. This is a positive change 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 6.4%. Altria Group’s payout ratio is presently 82.01%.

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.