HighMark Wealth Management LLC Has $441,000 Holdings in Altria Group, Inc. $MO

HighMark Wealth Management LLC grew its position in Altria Group, Inc. (NYSE:MO) by 3,625.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,526 shares of the company’s stock after purchasing an additional 7,324 shares during the period. HighMark Wealth Management LLC’s holdings in Altria Group were worth $441,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC purchased a new position in Altria Group during the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group in the second quarter worth $25,000. Carderock Capital Management Inc. purchased a new position in shares of Altria Group during the second quarter valued at $26,000. Inlight Wealth Management LLC acquired a new position in Altria Group during the first quarter valued at $31,000. Finally, Sierra Ocean LLC lifted its stake in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after acquiring an additional 353 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Trading Down 0.8%

MO stock opened at $65.74 on Friday. The firm has a market cap of $110.44 billion, a PE ratio of 12.72, a PEG ratio of 3.56 and a beta of 0.55. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60. The company has a fifty day simple moving average of $65.07 and a 200 day simple moving average of $60.86.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period last year, the company earned $1.31 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.4%. This is a boost from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. Altria Group’s dividend payout ratio is 82.01%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MO. UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Jefferies Financial Group started coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price target for the company. Morgan Stanley increased their target price on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Bank of America boosted their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Finally, Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a research note on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.88.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.