Altria Group, Inc. $MO Shares Purchased by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,475 shares of the company’s stock after buying an additional 2,085 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Altria Group were worth $1,083,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC lifted its holdings in Altria Group by 88.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company’s stock worth $512,000 after buying an additional 4,007 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in Altria Group during the 2nd quarter worth approximately $1,715,000. Invst LLC lifted its holdings in Altria Group by 252.0% during the 1st quarter. Invst LLC now owns 16,188 shares of the company’s stock worth $972,000 after buying an additional 11,589 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Altria Group by 17.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company’s stock worth $63,676,000 after buying an additional 161,356 shares in the last quarter. Finally, Carr Financial Group Corp acquired a new stake in Altria Group during the 2nd quarter worth approximately $241,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

NYSE MO opened at $66.64 on Wednesday. The firm’s fifty day moving average price is $65.46 and its 200 day moving average price is $61.04. The company has a market capitalization of $111.94 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 3.52 and a beta of 0.55. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60.

Altria Group (NYSE:MO) last posted its 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 firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.4%. 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. Altria Group’s payout ratio is 82.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of 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 price objective on shares of Altria Group in a research report on Thursday, August 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research report on Saturday, September 27th. Barclays increased their price objective 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. Finally, Morgan Stanley increased their price objective on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Four equities research 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. According to MarketBeat.com, the company 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.