Schneider Downs Wealth Management Advisors LP Buys Shares of 4,638 Altria Group, Inc. $MO

Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Altria Group, Inc. (NYSE:MO) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 4,638 shares of the company’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Interchange Capital Partners LLC raised its position in shares of Altria Group by 8.8% during the 2nd quarter. Interchange Capital Partners LLC now owns 7,851 shares of the company’s stock valued at $460,000 after acquiring an additional 632 shares during the last quarter. Brighton Jones LLC raised its position in shares of Altria Group by 1.0% during the 2nd quarter. Brighton Jones LLC now owns 36,331 shares of the company’s stock valued at $2,130,000 after acquiring an additional 350 shares during the last quarter. Stegent Equity Advisors Inc. raised its position in shares of Altria Group by 170.8% during the 2nd quarter. Stegent Equity Advisors Inc. now owns 22,112 shares of the company’s stock valued at $1,296,000 after acquiring an additional 13,948 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Altria Group by 201.8% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 103,339 shares of the company’s stock valued at $6,059,000 after acquiring an additional 69,095 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of Altria Group by 2.7% during the 2nd quarter. CVA Family Office LLC now owns 10,198 shares of the company’s stock valued at $598,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $64.72 on Friday. Altria Group, Inc. has a fifty-two week low of $49.58 and a fifty-two week high of $68.60. The stock has a market capitalization of $108.73 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 3.60 and a beta of 0.55. The business has a 50-day moving average of $65.76 and a 200-day moving average of $61.72.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.21 billion. During the same quarter last year, the company posted $1.31 earnings per share. Altria Group’s quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were issued a dividend of $1.06 per share. The ex-dividend date was Monday, September 15th. This is an increase from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a yield of 6.6%. Altria Group’s dividend payout ratio is 82.01%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America upped their target price 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. Morgan Stanley lifted their price target on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. 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 note on Wednesday, October 1st. Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target on the stock. Finally, UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.