Simplicity Wealth LLC Has $2.32 Million Stake in Altria Group, Inc. $MO

Simplicity Wealth LLC lowered its position in shares of Altria Group, Inc. (NYSE:MO) by 32.1% during the second quarter, HoldingsChannel.com reports. The fund owned 39,541 shares of the company’s stock after selling 18,727 shares during the quarter. Simplicity Wealth LLC’s holdings in Altria Group were worth $2,318,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mattson Financial Services LLC acquired a new stake in Altria Group during the first quarter worth approximately $25,000. Global X Japan Co. Ltd. acquired a new position in Altria Group in the second quarter valued at approximately $25,000. Carderock Capital Management Inc. bought a new position in shares of Altria Group during the 2nd quarter worth approximately $26,000. Inlight Wealth Management LLC acquired a new stake in shares of Altria Group during the 1st quarter worth approximately $31,000. Finally, Sierra Ocean LLC increased its stake in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock valued at $31,000 after acquiring an additional 353 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

Shares of NYSE MO opened at $65.70 on Monday. The company has a 50-day moving average price of $65.19 and a 200-day moving average price of $60.95. The stock has a market capitalization of $110.38 billion, a P/E ratio of 12.71, a P/E/G ratio of 3.53 and a beta of 0.55. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.5%. This is an increase from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. Altria Group’s dividend payout ratio is currently 82.01%.

Wall Street Analyst Weigh In

MO has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Bank of America lifted their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Barclays increased their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Saturday, September 27th. Finally, Morgan Stanley upped their price target on Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus 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.