Altria Group, Inc. $MO Stake Cut by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its holdings in Altria Group, Inc. (NYSE:MO) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 155,987 shares of the company’s stock after selling 15,484 shares during the period. SteelPeak Wealth LLC’s holdings in Altria Group were worth $10,467,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MO. Vanguard Group Inc. grew its stake in shares of Altria Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $126,471,000. TigerOak Management L.L.C. lifted its stake in Altria Group by 43.0% during the second quarter. TigerOak Management L.L.C. now owns 13,005 shares of the company’s stock valued at $762,000 after purchasing an additional 3,908 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Altria Group by 31.5% during the second quarter. Fisher Asset Management LLC now owns 97,389 shares of the company’s stock valued at $5,710,000 after purchasing an additional 23,331 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in Altria Group during the second quarter worth approximately $5,388,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group dropped their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group increased their price target on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $62.33.

Altria Group Stock Down 0.2%

Shares of NYSE:MO opened at $57.67 on Friday. The company’s fifty day moving average is $58.61 and its two-hundred day moving average is $61.61. The company has a market cap of $96.81 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 3.27 and a beta of 0.47. Altria Group, Inc. has a 12-month low of $50.08 and a 12-month high of $68.60.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 30th. The company reported $1.45 EPS for the quarter, topping the consensus estimate 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 negative return on equity of 319.43% and a net margin of 37.89%.Altria Group’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, December 26th. Altria Group’s dividend payout ratio is 80.92%.

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

About Altria Group

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.