Metis Global Partners LLC Reduces Stock Position in Altria Group, Inc. $MO

Metis Global Partners LLC trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,023 shares of the company’s stock after selling 7,674 shares during the period. Metis Global Partners LLC’s holdings in Altria Group were worth $2,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in Altria Group during the first quarter worth $25,000. Global X Japan Co. Ltd. acquired a new position in shares of Altria Group during the 2nd quarter worth $25,000. Carderock Capital Management Inc. purchased a new stake in shares of Altria Group in the 2nd quarter worth about $26,000. TruNorth Capital Management LLC grew its stake in Altria Group by 51.8% in the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company’s stock valued at $38,000 after acquiring an additional 217 shares during the last quarter. Finally, Compass Financial Services Inc grew its stake in Altria Group by 64.4% in the 1st quarter. Compass Financial Services Inc now owns 717 shares of the company’s stock valued at $43,000 after acquiring an additional 281 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Bank of America lifted their price objective on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. UBS Group lowered their target price on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Barclays boosted their price target on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Finally, Morgan Stanley upped 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. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.33.

Altria Group Stock Performance

Shares of NYSE MO opened at $58.02 on Monday. The firm’s 50 day moving average price is $64.16 and its 200 day moving average price is $61.89. The firm has a market cap of $97.40 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51. Altria Group, Inc. has a 1 year low of $50.08 and a 1 year high of $68.60.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 7.3%. 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 80.92%.

Altria Group declared that its board has approved a share buyback plan on Thursday, October 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.