Precedent Wealth Partners LLC Grows Stake in Altria Group, Inc. $MO

Precedent Wealth Partners LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,748 shares of the company’s stock after purchasing an additional 3,476 shares during the period. Precedent Wealth Partners LLC’s holdings in Altria Group were worth $1,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MO. Brighton Jones LLC grew its stake in 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 acquiring an additional 6,954 shares in the last quarter. Lmcg Investments LLC grew its stake in Altria Group by 28.5% during the 1st quarter. Lmcg Investments LLC now owns 22,247 shares of the company’s stock valued at $1,335,000 after acquiring an additional 4,933 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Altria Group by 10.4% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,502 shares of the company’s stock valued at $210,000 after acquiring an additional 331 shares in the last quarter. Breakwater Capital Group purchased a new stake in Altria Group during the 1st quarter valued at about $425,000. Finally, Vest Financial LLC grew its stake in Altria Group by 73.5% during the 1st quarter. Vest Financial LLC now owns 16,696 shares of the company’s stock valued at $1,002,000 after acquiring an additional 7,074 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO stock opened at $65.70 on Friday. The firm’s 50 day moving average price is $65.19 and its 200-day moving average price is $60.91. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The firm has a market cap of $110.38 billion, a P/E ratio of 12.71, a P/E/G ratio of 3.54 and a beta of 0.55.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter 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, research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on MO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research note on Saturday, September 27th. Bank of America boosted their target price on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Barclays boosted their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a report on Thursday, August 21st. Finally, Morgan Stanley boosted their target price on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Altria Group 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.