HB Wealth Management LLC Grows Stock Holdings in Altria Group, Inc. $MO

HB Wealth Management LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,386 shares of the company’s stock after acquiring an additional 15,561 shares during the quarter. HB Wealth Management LLC’s holdings in Altria Group were worth $7,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Mattson Financial Services LLC bought a new stake in shares of Altria Group during the 1st quarter valued at $25,000. Global X Japan Co. Ltd. purchased a new position in Altria Group during the 2nd quarter valued at about $25,000. Carderock Capital Management Inc. purchased a new position in Altria Group during the 2nd quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Altria Group during the second quarter valued at about $27,000. Finally, Country Trust Bank lifted its holdings in shares of Altria Group by 400.0% in the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after buying an additional 400 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

Shares of MO opened at $55.88 on Friday. The firm’s 50 day simple moving average is $57.98 and its 200 day simple moving average is $61.50. The company has a market capitalization of $93.80 billion, a P/E ratio of 10.66, a P/E/G ratio of 3.04 and a beta of 0.47. Altria Group, Inc. has a 1-year low of $50.08 and a 1-year high of $68.60.

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

Altria Group declared that its board has initiated a share repurchase program on Thursday, October 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Friday, December 26th. Altria Group’s dividend payout ratio is currently 80.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their price target 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. Finally, UBS Group reduced their price target on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.33.

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.