Global X Japan Co. Ltd. Raises Holdings in Altria Group, Inc. $MO

Global X Japan Co. Ltd. lifted its position in shares of Altria Group, Inc. (NYSE:MO) by 5,527.4% in the 3rd quarter, Holdings Channel reports. The fund owned 24,423 shares of the company’s stock after buying an additional 23,989 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Altria Group were worth $1,613,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares during the period. State Street Corp lifted its stake in shares of Altria Group by 1.2% during the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company’s stock valued at $4,315,438,000 after buying an additional 886,583 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Altria Group by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 44,724,475 shares of the company’s stock worth $2,620,229,000 after buying an additional 764,221 shares during the period. Ameriprise Financial Inc. grew its stake in Altria Group by 62.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock valued at $954,446,000 after buying an additional 6,302,819 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Altria Group by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,851,415 shares of the company’s stock valued at $518,958,000 after acquiring an additional 374,425 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $58.72 on Wednesday. The company has a market capitalization of $98.58 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 3.33 and a beta of 0.48. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60. The business’s fifty day moving average is $59.51 and its 200 day moving average is $61.71.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. Altria Group had a negative return on equity of 319.43% and a net margin of 37.89%.The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the company earned $1.38 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group announced that its board has authorized a share buyback plan on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, December 26th. Altria Group’s payout ratio is currently 80.92%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MO shares. UBS Group cut their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 31st. The Goldman Sachs Group increased their price objective on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Four 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.33.

Altria Group Profile

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.