Altria Group, Inc. $MO Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC raised its holdings in Altria Group, Inc. (NYSE:MO) by 9.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 141,729 shares of the company’s stock after acquiring an additional 11,830 shares during the period. Merit Financial Group LLC’s holdings in Altria Group were worth $9,363,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in shares of Altria Group during the 1st quarter valued at $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Altria Group in the 2nd quarter worth $25,000. Carderock Capital Management Inc. acquired a new position in Altria Group in the second quarter valued at $26,000. Darwin Wealth Management LLC purchased a new stake in Altria Group during the second quarter valued at about $27,000. Finally, Country Trust Bank grew its position in Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Down 0.2%

Shares of MO stock opened at $57.67 on Thursday. The firm has a fifty day simple moving average of $58.75 and a 200-day simple moving average of $61.64. The company has a market capitalization of $96.81 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.28 and a beta of 0.48. Altria Group, Inc. has a twelve month low of $50.08 and a twelve month high of $68.60.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. Equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Altria Group Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on MO. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. UBS Group dropped 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 report on Friday, October 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group 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.