Bar Harbor Wealth Management Raises Holdings in Altria Group, Inc. $MO

Bar Harbor Wealth Management lifted its stake in Altria Group, Inc. (NYSE:MO) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,656 shares of the company’s stock after acquiring an additional 169 shares during the quarter. Bar Harbor Wealth Management’s holdings in Altria Group were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC boosted its stake in shares of Altria Group by 88.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company’s stock worth $512,000 after buying an additional 4,007 shares during the last quarter. Central Valley Advisors LLC purchased a new position in Altria Group during the second quarter worth approximately $1,715,000. Invst LLC boosted its position in Altria Group by 252.0% during the first quarter. Invst LLC now owns 16,188 shares of the company’s stock worth $972,000 after purchasing an additional 11,589 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Altria Group by 17.4% during the second quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company’s stock worth $63,676,000 after purchasing an additional 161,356 shares in the last quarter. Finally, Carr Financial Group Corp purchased a new position in Altria Group during the second quarter worth approximately $241,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

NYSE MO opened at $65.72 on Friday. The company has a market cap of $110.40 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.52 and a beta of 0.55. The stock’s 50 day simple moving average is $65.62 and its 200-day simple moving average is $61.13. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter last year, the business posted $1.31 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be issued a $1.06 dividend. This is a boost from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group’s payout ratio is 82.01%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MO. The Goldman Sachs Group increased their price target on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Barclays increased their price target on Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Jefferies Financial Group began coverage on Altria Group in a research report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday. Finally, UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. 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 stock has a consensus rating of “Hold” and a consensus price target of $62.11.

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.