Perpetual Ltd Has $2.45 Million Holdings in Altria Group, Inc. $MO

Perpetual Ltd increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 192.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,115 shares of the company’s stock after buying an additional 24,423 shares during the period. Perpetual Ltd’s holdings in Altria Group were worth $2,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Altria Group by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after acquiring an additional 1,599,923 shares during the period. State Street Corp grew its stake in shares of Altria Group by 1.2% during the second quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after purchasing an additional 886,583 shares during the period. Geode Capital Management LLC increased its holdings in Altria Group by 1.7% in the second quarter. Geode Capital Management LLC now owns 44,724,475 shares of the company’s stock valued at $2,620,229,000 after purchasing an additional 764,221 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Altria Group by 62.5% in the second quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock valued at $954,446,000 after buying an additional 6,302,819 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Altria Group by 4.4% during the second quarter. Legal & General Group Plc now owns 8,851,415 shares of the company’s stock worth $518,958,000 after buying an additional 374,425 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group upped 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. UBS Group lowered their target price on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.33.

Altria Group Stock Performance

NYSE MO opened at $58.17 on Friday. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60. The business has a 50 day simple moving average of $59.77 and a 200 day simple moving average of $61.71. The stock has a market cap of $97.65 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.30 and a beta of 0.48.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a net margin of 37.89% and a negative return on equity of 319.43%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. On average, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, December 26th. Altria Group’s dividend payout ratio is currently 80.92%.

Altria Group declared that its board has authorized a share repurchase program on Thursday, October 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.