Bingham Private Wealth LLC Has $475,000 Stake in Altria Group, Inc. $MO

Bingham Private Wealth LLC lowered its holdings in Altria Group, Inc. (NYSE:MO) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,108 shares of the company’s stock after selling 626 shares during the quarter. Bingham Private Wealth LLC’s holdings in Altria Group were worth $475,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Jacobi Capital Management LLC increased its holdings in shares of Altria Group by 0.6% in the first quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock worth $1,581,000 after purchasing an additional 168 shares during the period. Vista Investment Partners II LLC boosted its stake in Altria Group by 4.2% during the first quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company’s stock valued at $258,000 after buying an additional 174 shares during the period. Wealth Alliance LLC grew its position in Altria Group by 1.9% during the first quarter. Wealth Alliance LLC now owns 9,452 shares of the company’s stock worth $567,000 after buying an additional 174 shares in the last quarter. Patten & Patten Inc. TN increased its stake in Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company’s stock worth $723,000 after acquiring an additional 174 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC increased its stake in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company’s stock worth $406,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

NYSE:MO opened at $65.36 on Tuesday. The company has a market capitalization of $109.80 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 3.53 and a beta of 0.55. The business has a 50 day moving average of $65.32 and a 200 day moving average of $61.00. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MO. The Goldman Sachs Group lifted their price target on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research note on Saturday, September 27th. Barclays lifted their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. 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 price target on the stock. Finally, Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus target price of $62.11.

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.