Hoese & Co LLP Purchases 2,000 Shares of Altria Group, Inc. $MO

Hoese & Co LLP grew its stake in shares of Altria Group, Inc. (NYSE:MO) by 125.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,600 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Hoese & Co LLP’s holdings in Altria Group were worth $211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Central Valley Advisors LLC acquired a new position in shares of Altria Group during the second quarter valued at about $1,715,000. Invst LLC lifted its stake in Altria Group by 252.0% in the 1st quarter. Invst LLC now owns 16,188 shares of the company’s stock worth $972,000 after purchasing an additional 11,589 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Altria Group by 17.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company’s stock worth $63,676,000 after buying an additional 161,356 shares during the last quarter. Carr Financial Group Corp bought a new position in shares of Altria Group in the 2nd quarter worth $241,000. Finally, FCG Investment Co bought a new stake in shares of Altria Group in the 2nd quarter valued at about $1,237,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Morgan Stanley upped 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. Barclays upped their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.11.

Altria Group Price Performance

MO stock opened at $65.00 on Friday. The company has a market capitalization of $109.19 billion, a PE ratio of 12.57, a P/E/G ratio of 3.57 and a beta of 0.55. The firm’s 50-day moving average is $65.90 and its 200 day moving average is $61.41. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60.

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

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were paid a $1.06 dividend. This is a boost from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date was 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 (DPR) is 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.