Strait & Sound Wealth Management LLC Has $288,000 Stock Position in Altria Group, Inc. $MO

Strait & Sound Wealth Management LLC lifted its stake in Altria Group, Inc. (NYSE:MO) by 21.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,909 shares of the company’s stock after acquiring an additional 870 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Altria Group were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MO. Jacobi Capital Management LLC grew its holdings in Altria Group by 0.6% during 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. Bar Harbor Wealth Management grew its holdings in Altria Group by 3.1% during the second quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company’s stock worth $332,000 after purchasing an additional 169 shares during the period. Parcion Private Wealth LLC grew its holdings in Altria Group by 1.6% during the second quarter. Parcion Private Wealth LLC now owns 11,172 shares of the company’s stock worth $655,000 after purchasing an additional 172 shares during the period. Vista Investment Partners II LLC grew its holdings 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 worth $258,000 after purchasing an additional 174 shares during the period. Finally, Wealth Alliance LLC grew its holdings 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 purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

MO has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Friday. Stifel Nicolaus set a $72.00 price target on Altria Group in a research note on Thursday, August 21st. Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They set an “underperform” rating and a $50.00 target price for the company. Bank of America upped their target price on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley upped their target price on Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.11.

Altria Group Stock Performance

Shares of MO opened at $64.72 on Friday. Altria Group, Inc. has a 52 week low of $49.58 and a 52 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 stock has a fifty day moving average of $65.76 and a 200-day moving average of $61.72.

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 the consensus estimate of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.Altria Group’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

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

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.