Cerity Partners LLC Raises Position in Altria Group, Inc. $MO

Cerity Partners LLC lifted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 575,041 shares of the company’s stock after acquiring an additional 35,803 shares during the period. Cerity Partners LLC’s holdings in Altria Group were worth $37,987,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MO. CWA Asset Management Group LLC raised its stake in Altria Group by 8.6% during the third quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock worth $22,158,000 after acquiring an additional 26,624 shares during the period. Vanguard Group Inc. grew its holdings in shares of Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock valued at $9,364,216,000 after purchasing an additional 1,599,923 shares during the last quarter. TigerOak Management L.L.C. raised its position in shares of Altria Group by 43.0% during the 2nd quarter. TigerOak Management L.L.C. now owns 13,005 shares of the company’s stock worth $762,000 after purchasing an additional 3,908 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $126,471,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of Altria Group by 31.5% in the 2nd quarter. Fisher Asset Management LLC now owns 97,389 shares of the company’s stock worth $5,710,000 after purchasing an additional 23,331 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

NYSE:MO opened at $55.88 on Friday. The stock has a market cap of $93.80 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 3.04 and a beta of 0.47. Altria Group, Inc. has a 1 year low of $50.08 and a 1 year high of $68.60. The business has a fifty day moving average of $57.98 and a 200-day moving average of $61.50.

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

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 $1.06 dividend. The ex-dividend date is Friday, December 26th. This represents a $4.24 annualized dividend and a dividend yield of 7.6%. Altria Group’s dividend payout ratio (DPR) is 80.92%.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MO. UBS Group dropped their target price on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. The Goldman Sachs Group increased their price objective on shares of 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 reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Four research 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 MarketBeat.com, the company has a consensus 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.