13,387 Shares in Altria Group, Inc. $MO Bought by Davis Capital Management

Davis Capital Management bought a new stake in shares of Altria Group, Inc. (NYSE:MO) in the third quarter, Holdings Channel reports. The fund bought 13,387 shares of the company’s stock, valued at approximately $884,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Verity & Verity LLC lifted its holdings in shares of Altria Group by 0.7% in the 3rd quarter. Verity & Verity LLC now owns 308,823 shares of the company’s stock valued at $20,401,000 after buying an additional 2,220 shares during the period. Signaturefd LLC raised its position in Altria Group by 5.1% during the third quarter. Signaturefd LLC now owns 38,086 shares of the company’s stock valued at $2,516,000 after acquiring an additional 1,831 shares in the last quarter. PDS Planning Inc lifted its holdings in Altria Group by 2.3% in the third quarter. PDS Planning Inc now owns 11,712 shares of the company’s stock valued at $774,000 after acquiring an additional 258 shares during the period. Morris Financial Concepts Inc. boosted its position in Altria Group by 45.7% in the 3rd quarter. Morris Financial Concepts Inc. now owns 5,085 shares of the company’s stock worth $336,000 after purchasing an additional 1,595 shares in the last quarter. Finally, NTV Asset Management LLC grew its stake in shares of Altria Group by 12.2% during the 3rd quarter. NTV Asset Management LLC now owns 5,218 shares of the company’s stock worth $345,000 after purchasing an additional 569 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

NYSE:MO opened at $57.32 on Friday. The stock has a market capitalization of $96.22 billion, a PE ratio of 10.94, a P/E/G ratio of 3.18 and a beta of 0.47. Altria Group, Inc. has a fifty-two week low of $50.08 and a fifty-two week high of $68.60. The company has a fifty day moving average of $58.47 and a two-hundred day moving average of $61.62.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. Altria Group had a net margin of 37.89% and a negative return on equity of 319.43%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the business earned $1.38 earnings per share. The company’s revenue for the quarter 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. Research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 7.4%. The ex-dividend date is Friday, December 26th. Altria Group’s payout ratio is 80.92%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. The Goldman Sachs Group upped their price objective on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.