Dakota Wealth Management Raises Holdings in Altria Group, Inc. $MO

Dakota Wealth Management lifted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 19.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,432 shares of the company’s stock after acquiring an additional 2,529 shares during the period. Dakota Wealth Management’s holdings in Altria Group were worth $905,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MO. Perigon Wealth Management LLC boosted its position in Altria Group by 4.7% in the second quarter. Perigon Wealth Management LLC now owns 53,682 shares of the company’s stock valued at $3,147,000 after buying an additional 2,392 shares during the last quarter. TigerOak Management L.L.C. boosted its position in Altria Group by 43.0% in the second quarter. TigerOak Management L.L.C. now owns 13,005 shares of the company’s stock valued at $762,000 after buying an additional 3,908 shares during the last quarter. Plancorp LLC boosted its position in Altria Group by 2.3% in the second quarter. Plancorp LLC now owns 8,964 shares of the company’s stock valued at $526,000 after buying an additional 200 shares during the last quarter. Exeter Financial LLC boosted its position in Altria Group by 1.2% in the second quarter. Exeter Financial LLC now owns 22,246 shares of the company’s stock valued at $1,304,000 after buying an additional 255 shares during the last quarter. Finally, Retirement Guys Formula LLC boosted its position in Altria Group by 1.4% in the second quarter. Retirement Guys Formula LLC now owns 22,218 shares of the company’s stock valued at $1,298,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO stock opened at $65.67 on Friday. The company has a market cap of $110.32 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 3.53 and a beta of 0.59. The stock has a 50 day simple moving average of $64.55 and a 200-day simple moving average of $60.67. 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 earnings results 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. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is 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 currently 82.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays upped their target price on Altria Group from $49.00 to $57.00 and gave the company 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 upped their target price for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Bank of America upped their target price on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Stifel Nicolaus set a $72.00 target price on Altria Group in a research report on Thursday, August 21st. Finally, Morgan Stanley upped 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. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.88.

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.