Parcion Private Wealth LLC Buys 172 Shares of Altria Group, Inc. $MO

Parcion Private Wealth LLC increased its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,172 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Parcion Private Wealth LLC’s holdings in Altria Group were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MO. GQG Partners LLC grew its position in Altria Group by 8,146.4% during the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock worth $1,122,290,000 after acquiring an additional 18,471,846 shares during the last quarter. Nuveen LLC bought a new stake in shares of Altria Group in the 1st quarter worth approximately $219,141,000. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock worth $3,798,592,000 after buying an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Altria Group by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock worth $717,913,000 after buying an additional 3,415,237 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Altria Group by 111.3% in the 1st quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock worth $333,606,000 after buying an additional 2,928,006 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MO. Barclays lifted their price objective on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Morgan Stanley lifted their price objective on Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus target price of $62.11.

Altria Group Stock Up 0.9%

MO opened at $64.35 on Thursday. The stock has a market cap of $108.10 billion, a PE ratio of 12.45, a PEG ratio of 3.55 and a beta of 0.55. The business has a 50 day moving average of $65.81 and a 200-day moving average of $61.56. Altria Group, Inc. has a 52 week low of $49.58 and a 52 week high of $68.60.

Altria Group (NYSE:MO) last released 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 company had revenue of $5.29 billion during 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%.The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders 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 yield of 6.6%. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Altria Group 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.