Sovereign Financial Group Inc. Reduces Holdings in Altria Group, Inc. $MO

Sovereign Financial Group Inc. decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 7.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,671 shares of the company’s stock after selling 381 shares during the period. Sovereign Financial Group Inc.’s holdings in Altria Group were worth $274,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in shares of Altria Group during the first quarter worth about $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Altria Group during the second quarter worth about $25,000. Carderock Capital Management Inc. purchased a new stake in shares of Altria Group during the second quarter worth about $26,000. Sierra Ocean LLC grew its stake in shares of 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 acquiring an additional 353 shares during the last quarter. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Altria Group during the first quarter worth about $31,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 1.2%

Shares of NYSE:MO opened at $66.54 on Monday. Altria Group, Inc. has a 12-month low of $48.86 and a 12-month high of $68.60. The company has a market capitalization of $111.78 billion, a PE ratio of 12.87, a PEG ratio of 3.70 and a beta of 0.55. The business has a 50 day moving average of $65.72 and a two-hundred day moving average of $61.24.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate 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 negative return on equity of 295.26% and a net margin of 37.24%.The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced 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. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio is currently 82.01%.

Analyst Upgrades and Downgrades

MO has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Morgan Stanley upped their target price on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Jefferies Financial Group initiated coverage on Altria Group in a research report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price on the stock. Stifel Nicolaus set a $72.00 target price on Altria Group in a research report on Thursday, August 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.