SteelPeak Wealth LLC Has $10.23 Million Stock Holdings in Altria Group, Inc. $MO

SteelPeak Wealth LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 248.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 171,471 shares of the company’s stock after purchasing an additional 122,314 shares during the period. SteelPeak Wealth LLC’s holdings in Altria Group were worth $10,226,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MO shares. Stifel Nicolaus set a $72.00 price target on Altria Group in a research note on Thursday, August 21st. Bank of America boosted their price target on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Saturday, September 27th. The Goldman Sachs Group upped 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. Finally, Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.11.

Altria Group Trading Down 0.6%

MO stock opened at $65.36 on Tuesday. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60. The firm has a market cap of $109.80 billion, a P/E ratio of 12.64, a P/E/G ratio of 3.53 and a beta of 0.55. The business’s 50 day moving average is $65.32 and its 200-day moving average is $61.00.

Altria Group (NYSE:MO) last released its quarterly earnings data 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 in the prior year, the company posted $1.31 EPS. The company’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. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be given a dividend of $1.06 per share. This is a boost from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group’s dividend payout ratio is currently 82.01%.

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.