HB Wealth Management LLC Has $7.56 Million Holdings in Altria Group, Inc. $MO

HB Wealth Management LLC raised its stake in shares of Altria Group, Inc. (NYSE:MO) by 15.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 114,386 shares of the company’s stock after purchasing an additional 15,561 shares during the period. HB Wealth Management LLC’s holdings in Altria Group were worth $7,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burford Brothers Inc. grew its holdings in Altria Group by 5.2% during the third quarter. Burford Brothers Inc. now owns 41,196 shares of the company’s stock worth $2,721,000 after buying an additional 2,042 shares in the last quarter. Spire Wealth Management boosted its holdings in Altria Group by 20.0% during the 3rd quarter. Spire Wealth Management now owns 22,816 shares of the company’s stock worth $1,507,000 after acquiring an additional 3,795 shares during the last quarter. CX Institutional grew its stake in shares of Altria Group by 10.6% in the 3rd quarter. CX Institutional now owns 128,893 shares of the company’s stock worth $8,515,000 after acquiring an additional 12,325 shares in the last quarter. WMG Financial Advisors LLC grew its stake in shares of Altria Group by 7.9% in the 3rd quarter. WMG Financial Advisors LLC now owns 6,240 shares of the company’s stock worth $412,000 after acquiring an additional 459 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in shares of Altria Group by 112.5% in the third quarter. Childress Capital Advisors LLC now owns 8,337 shares of the company’s stock valued at $551,000 after purchasing an additional 4,413 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MO. The Goldman Sachs Group upped their price objective on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. UBS Group cut their target price on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.33.

Altria Group Stock Up 2.1%

Shares of MO stock opened at $55.88 on Friday. The firm has a market cap of $93.80 billion, a P/E ratio of 10.66, a PEG ratio of 3.04 and a beta of 0.47. The company has a 50 day moving average of $57.98 and a 200-day moving average of $61.50. Altria Group, Inc. has a 12-month low of $50.08 and a 12-month high of $68.60.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. Altria Group had a negative return on equity of 319.43% and a net margin of 37.89%.The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the company earned $1.38 earnings per share. Altria Group’s 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. As a group, equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 7.6%. Altria Group’s dividend payout ratio (DPR) is 80.92%.

Altria Group declared that its board has authorized a stock repurchase program on Thursday, October 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.