Bingham Private Wealth LLC Sells 626 Shares of Altria Group, Inc. $MO

Bingham Private Wealth LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,108 shares of the company’s stock after selling 626 shares during the quarter. Bingham Private Wealth LLC’s holdings in Altria Group were worth $475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. Brighton Jones LLC increased its position in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after acquiring an additional 6,954 shares during the period. Vest Financial LLC grew its stake in shares of Altria Group by 73.5% in the first quarter. Vest Financial LLC now owns 16,696 shares of the company’s stock worth $1,002,000 after purchasing an additional 7,074 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Altria Group in the first quarter valued at $205,000. Revolve Wealth Partners LLC acquired a new stake in Altria Group in the first quarter valued at $202,000. Finally, Miracle Mile Advisors LLC bought a new position in Altria Group during the 1st quarter worth $392,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MO. Jefferies Financial Group began coverage on Altria Group in a research report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target on the stock. Stifel Nicolaus set a $72.00 target price on Altria Group in a report on Thursday, August 21st. Bank of America increased their target price on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. UBS Group upgraded shares of Altria Group from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Finally, Morgan Stanley upped their price objective on shares of Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus price target of $62.11.

Altria Group Stock Performance

Altria Group stock opened at $65.36 on Tuesday. The stock has a market capitalization of $109.80 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 3.53 and a beta of 0.55. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60. The stock’s 50 day moving average price is $65.32 and its two-hundred day moving average price is $61.00.

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

Altria Group Increases Dividend

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

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.