North Star Asset Management Inc. Acquires New Shares in Altria Group, Inc. $MO

North Star Asset Management Inc. bought a new stake in shares of Altria Group, Inc. (NYSE:MO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 36,820 shares of the company’s stock, valued at approximately $2,649,000.

Several other hedge funds have also recently modified their holdings of MO. Cornerstone Planning Group LLC lifted its stake in Altria Group by 5.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock valued at $191,000 after acquiring an additional 143 shares during the period. Angeles Wealth Management LLC boosted its holdings in shares of Altria Group by 1.3% during the 2nd quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company’s stock valued at $821,000 after acquiring an additional 146 shares during the last quarter. Bernardo Wealth Planning LLC grew its stake in shares of Altria Group by 4.6% in the second quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company’s stock worth $243,000 after acquiring an additional 149 shares during the period. Old Peak Finance LLC grew its stake in shares of Altria Group by 1.3% in the second quarter. Old Peak Finance LLC now owns 11,920 shares of the company’s stock worth $858,000 after acquiring an additional 151 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in shares of Altria Group by 0.7% during the second quarter. Joel Isaacson & Co. LLC now owns 23,324 shares of the company’s stock valued at $1,678,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $67.66 on Friday. The stock has a market cap of $112.97 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.45 and a beta of 0.46. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06. The firm has a fifty day moving average price of $70.11 and a 200-day moving average price of $68.95.

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

Altria Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. Jefferies Financial Group lifted their target price on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 27th. Morgan Stanley set a $71.00 target price on shares of Altria Group in a research note on Friday, May 1st. BTIG Research initiated coverage on Altria Group in a report on Tuesday, July 21st. They set a “neutral” rating on the stock. Finally, Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Five 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $70.11.

About Altria Group

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.