Altria Group, Inc. $MO Shares Bought by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 99.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,741 shares of the company’s stock after buying an additional 7,344 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Altria Group were worth $864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in shares of Altria Group in the first quarter worth $25,000. Global X Japan Co. Ltd. acquired a new position in Altria Group during the second quarter valued at $25,000. Carderock Capital Management Inc. purchased a new stake in Altria Group in the second quarter valued at $26,000. Anfield Capital Management LLC grew its position in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after purchasing an additional 415 shares during the period. Finally, Winnow Wealth LLC acquired a new stake in Altria Group during the 2nd quarter worth about $35,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MO has been the subject of several analyst reports. Barclays boosted their price objective on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $72.00 price target on Altria Group in a research report on Thursday, August 21st. The Goldman Sachs Group boosted their price target on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Finally, Bank of America lifted their target price on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. 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’s stock. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus target price of $62.33.

Altria Group Stock Down 0.0%

Shares of NYSE MO opened at $58.16 on Friday. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60. The company’s 50-day simple moving average is $62.50 and its 200-day simple moving average is $61.79. The firm has a market cap of $97.63 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $1.38 EPS. Altria Group’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. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.