Park Avenue Securities LLC Acquires Shares of 90,683 Altria Group, Inc. $MO

Park Avenue Securities LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO) during the third quarter, Holdings Channel.com reports. The firm bought 90,683 shares of the company’s stock, valued at approximately $5,991,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new position in Altria Group in the first quarter worth $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Altria Group in the 2nd quarter worth about $25,000. Carderock Capital Management Inc. purchased a new stake in shares of Altria Group in the 2nd quarter worth about $26,000. Darwin Wealth Management LLC bought a new position in shares of Altria Group in the 2nd quarter worth about $27,000. Finally, Country Trust Bank lifted its position in Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 2.1%

NYSE:MO opened at $55.88 on Friday. The company’s 50 day moving average price is $57.98 and its 200-day moving average price is $61.50. Altria Group, Inc. has a 52 week low of $50.08 and a 52 week high of $68.60. The stock has a market cap of $93.80 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 3.04 and a beta of 0.47.

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

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $4.24 annualized dividend and a dividend yield of 7.6%. Altria Group’s dividend payout ratio (DPR) is 80.92%.

Altria Group declared that its board has initiated a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. UBS Group cut their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price 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.