Shell Asset Management Co. Purchases 35,496 Shares of Altria Group, Inc. $MO

Shell Asset Management Co. raised its stake in Altria Group, Inc. (NYSE:MOFree Report) by 120.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 65,020 shares of the company’s stock after purchasing an additional 35,496 shares during the quarter. Shell Asset Management Co.’s holdings in Altria Group were worth $3,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MO. Mattson Financial Services LLC bought a new position in shares of Altria Group during the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. bought a new position in shares of Altria Group during the second quarter valued at approximately $25,000. Carderock Capital Management Inc. bought a new position in shares of Altria Group during the second quarter valued at approximately $26,000. Inlight Wealth Management LLC bought a new position in shares of Altria Group during the first quarter valued at approximately $31,000. Finally, Sierra Ocean LLC raised its holdings in shares of 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 in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 1.9%

NYSE MO opened at $66.64 on Wednesday. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The stock has a market cap of $111.94 billion, a P/E ratio of 12.89, a P/E/G ratio of 3.52 and a beta of 0.55. The stock’s fifty day moving average price is $65.46 and its 200-day moving average price is $61.04.

Altria Group (NYSE:MOGet Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. 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 earnings per share for the current fiscal year.

Altria Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus set a $72.00 target price on Altria Group in a report on Thursday, August 21st. The Goldman Sachs Group upped their price target on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Barclays upped their price target on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Bank of America upped their price target on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.11.

View Our Latest Stock Report on MO

Altria Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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