Altria Group, Inc. $MO Shares Sold by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. lessened its position in shares of Altria Group, Inc. (NYSE:MO) by 30.7% in the second quarter, Holdings Channel.com reports. The fund owned 18,172 shares of the company’s stock after selling 8,053 shares during the quarter. Altria Group comprises approximately 0.5% of Mid American Wealth Advisory Group Inc.’s holdings, making the stock its 29th largest position. Mid American Wealth Advisory Group Inc.’s holdings in Altria Group were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Altria Group by 64.7% during the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after buying an additional 6,954 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Altria Group by 86.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock valued at $373,000 after acquiring an additional 2,946 shares during the period. Schnieders Capital Management LLC. raised its stake in shares of Altria Group by 6.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock valued at $565,000 after acquiring an additional 618 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Altria Group during the 2nd quarter valued at $346,000. Finally, AXA S.A. acquired a new position in shares of Altria Group during the 2nd quarter valued at $5,752,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Down 1.0%

Altria Group stock opened at $68.80 on Friday. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $77.06. The stock has a market cap of $114.88 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.44 and a beta of 0.45. The company’s 50-day moving average price is $69.82 and its two-hundred day moving average price is $69.07.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the business earned $1.44 earnings per share. The company’s 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. Research analysts expect that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 6.5%. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. The ex-dividend date is Tuesday, September 15th. Altria Group’s payout ratio is currently 93.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group raised their price objective on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. BTIG Research assumed coverage on Altria Group in a research report on Tuesday, July 21st. They issued a “neutral” rating for the company. Jefferies Financial Group raised their target price on Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Wall Street Zen lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.