State of Alaska Department of Revenue Sells 9,198 Shares of Altria Group, Inc. $MO

State of Alaska Department of Revenue cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 299,680 shares of the company’s stock after selling 9,198 shares during the period. State of Alaska Department of Revenue’s holdings in Altria Group were worth $19,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MO. Kercheville Advisors LLC increased its holdings in Altria Group by 3.7% during the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares in the last quarter. Founders Grove Wealth Partners LLC boosted its position in Altria Group by 2.9% during the third quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock worth $382,000 after purchasing an additional 165 shares during the period. Westside Investment Management Inc. raised its holdings in Altria Group by 4.5% in the 2nd quarter. Westside Investment Management Inc. now owns 3,816 shares of the company’s stock valued at $224,000 after acquiring an additional 166 shares during the period. Jacobi Capital Management LLC increased its position in Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock worth $1,581,000 after buying an additional 168 shares during the period. Finally, Bar Harbor Wealth Management boosted its holdings in Altria Group by 3.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company’s stock valued at $332,000 after purchasing an additional 169 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Trading Up 2.1%

MO stock opened at $55.88 on Friday. Altria Group, Inc. has a 12 month low of $50.08 and a 12 month high of $68.60. The firm has a 50 day moving average of $57.98 and a 200-day moving average of $61.50. The firm has a market capitalization of $93.80 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 3.04 and a beta of 0.47.

Altria Group (NYSE:MO) last issued 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 firm had revenue of $5.25 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. Sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group declared that its Board of Directors has authorized a share buyback plan on Thursday, October 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Altria Group Announces Dividend

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

Analysts Set New Price Targets

MO has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. 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 report on Wednesday, October 1st. Finally, UBS Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $61.00 to $63.00 in a report on Friday. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.56.

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.