Altria Group, Inc. $MO Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC boosted its position in shares of Altria Group, Inc. (NYSE:MO) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,651 shares of the company’s stock after purchasing an additional 1,078 shares during the quarter. Belpointe Asset Management LLC’s holdings in Altria Group were worth $3,204,000 at the end of the most recent reporting period.

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

Altria Group Trading Down 0.1%

Shares of Altria Group stock opened at $65.70 on Monday. The business’s fifty day moving average price is $65.19 and its 200 day moving average price is $60.95. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60. The stock has a market capitalization of $110.38 billion, a P/E ratio of 12.71, a PEG ratio of 3.53 and a beta of 0.55.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same period last year, the business posted $1.31 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be given a $1.06 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. Altria Group’s dividend payout ratio (DPR) is currently 82.01%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price on the stock. UBS Group raised shares of Altria Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Barclays lifted their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a report on Saturday, September 27th. Finally, Bank of America raised their price objective on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Altria Group currently has a consensus 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.