Concord Asset Management LLC VA Makes New $529,000 Investment in Altria Group, Inc. $MO

Concord Asset Management LLC VA bought a new position in shares of Altria Group, Inc. (NYSE:MO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,025 shares of the company’s stock, valued at approximately $529,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Brighton Jones LLC grew its holdings in Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after buying an additional 6,954 shares in the last quarter. GAMMA Investing LLC grew its holdings in Altria Group by 17.8% during the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company’s stock valued at $2,162,000 after buying an additional 5,440 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Altria Group by 88.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company’s stock valued at $512,000 after buying an additional 4,007 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in Altria Group by 14.6% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,308 shares of the company’s stock valued at $263,000 after buying an additional 550 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Altria Group by 30.8% during the 1st quarter. Sound Income Strategies LLC now owns 5,107 shares of the company’s stock valued at $307,000 after buying an additional 1,203 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a report on Thursday, August 21st. Bank of America increased their price objective on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Jefferies Financial Group began coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.11.

Altria Group Stock Performance

MO stock opened at $64.92 on Tuesday. The firm has a fifty day moving average price of $65.78 and a 200 day moving average price of $61.29. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The firm has a market cap of $109.07 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 3.70 and a beta of 0.55.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%.Altria Group’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, equities analysts predict 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 was paid on Friday, October 10th. Investors of record on Monday, September 15th were given a $1.06 dividend. This is a boost from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Monday, September 15th. 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.