Altria Group, Inc. $MO Shares Purchased by Zullo Investment Group Inc.

Zullo Investment Group Inc. boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,211 shares of the company’s stock after purchasing an additional 313 shares during the period. Zullo Investment Group Inc.’s holdings in Altria Group were worth $423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC grew its position 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 purchasing an additional 4,007 shares during the last quarter. Central Valley Advisors LLC purchased a new position in Altria Group during the 2nd quarter worth $1,715,000. Invst LLC grew its position 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 purchasing an additional 11,589 shares during the last quarter. Exchange Traded Concepts LLC grew its position 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 purchasing an additional 161,356 shares during the last quarter. Finally, Carr Financial Group Corp purchased a new position in Altria Group during the 2nd quarter worth $241,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

MO opened at $66.54 on Friday. The stock has a market cap of $111.78 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.66 and a beta of 0.55. The stock’s 50 day simple moving average is $65.72 and its 200 day simple moving average is $61.20. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion during 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 firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were paid a dividend of $1.06 per share. This is an increase from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.4%. The ex-dividend date was Monday, September 15th. Altria Group’s payout ratio is presently 82.01%.

Wall Street Analyst Weigh In

MO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group initiated 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. Bank of America lifted 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. Finally, 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 report on Wednesday, August 6th. Four research 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 currently has a consensus rating of “Hold” and a consensus price target of $62.11.

Altria Group 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.