150,159 Shares in Altria Group, Inc. $MO Purchased by Equitable Holdings Inc.

Equitable Holdings Inc. purchased a new stake in shares of Altria Group, Inc. (NYSE:MO) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 150,159 shares of the company’s stock, valued at approximately $10,804,000.

Other hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC increased its stake in shares of Altria Group by 5.8% during the first quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock valued at $191,000 after purchasing an additional 143 shares in the last quarter. Angeles Wealth Management LLC boosted its position in shares of Altria Group by 1.3% in the 2nd quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company’s stock worth $821,000 after purchasing an additional 146 shares in the last quarter. Bernardo Wealth Planning LLC grew its stake in shares of Altria Group by 4.6% in the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company’s stock worth $243,000 after buying an additional 149 shares during the last quarter. Old Peak Finance LLC grew its stake in shares of Altria Group by 1.3% in the 2nd quarter. Old Peak Finance LLC now owns 11,920 shares of the company’s stock worth $858,000 after buying an additional 151 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its position in Altria Group by 0.7% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 23,324 shares of the company’s stock valued at $1,678,000 after buying an additional 152 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO opened at $67.66 on Friday. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06. The company has a market cap of $112.97 billion, a P/E ratio of 14.27, a PEG ratio of 2.45 and a beta of 0.46. The stock’s fifty day moving average price is $70.11 and its 200-day moving average price is $68.95.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.35 billion. Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.Altria Group’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.67 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. This represents a $4.44 annualized dividend and a dividend yield of 6.6%. Altria Group’s dividend payout ratio is presently 89.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MO. Barclays lowered their price objective on Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft raised their price target on Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group upped their price target on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 27th. BTIG Research assumed coverage on shares of Altria Group in a research report on Tuesday, July 21st. They set a “neutral” rating on the stock. Finally, Citigroup upped their target price on shares of Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus target price of $70.11.

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.