Resonant Capital Advisors LLC Boosts Stake in Altria Group, Inc. $MO

Resonant Capital Advisors LLC grew its stake in shares of Altria Group, Inc. (NYSE:MO) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,025 shares of the company’s stock after buying an additional 2,027 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Altria Group were worth $598,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of 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 raised its holdings in shares of 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. Transcend Capital Advisors LLC raised its stake in shares of Altria Group by 3.0% during the first quarter. Transcend Capital Advisors LLC now owns 13,475 shares of the company’s stock worth $809,000 after acquiring an additional 395 shares in the last quarter. Money Concepts Capital Corp purchased a new position in shares of Altria Group during the first quarter worth approximately $588,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Altria Group by 14.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 602,120 shares of the company’s stock worth $35,399,000 after acquiring an additional 77,467 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO opened at $64.72 on Monday. The stock’s 50-day moving average is $65.76 and its 200 day moving average is $61.76. The company has a market cap of $108.73 billion, a PE ratio of 12.52, a P/E/G ratio of 3.60 and a beta of 0.55. Altria Group, Inc. has a 1 year low of $49.58 and a 1 year high of $68.60.

Altria Group (NYSE:MO) last released its quarterly earnings data 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. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.21 billion. During the same quarter last year, the business posted $1.31 EPS. The business’s revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were issued a dividend of $1.06 per share. 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 dividend yield of 6.6%. The ex-dividend date was Monday, September 15th. Altria Group’s dividend payout ratio is currently 82.01%.

Analyst Ratings Changes

A number of brokerages recently commented on MO. Jefferies Financial Group began coverage on shares of 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 note on Thursday, August 21st. The Goldman Sachs Group raised their price target on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Morgan Stanley boosted their price objective 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. Finally, Bank of America increased their price objective on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.11.

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.