Cullen Capital Management LLC Sells 264,707 Shares of Altria Group, Inc. $MO

Cullen Capital Management LLC lowered its holdings in shares of Altria Group, Inc. (NYSE:MO) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,617,603 shares of the company’s stock after selling 264,707 shares during the period. Altria Group makes up about 1.7% of Cullen Capital Management LLC’s holdings, making the stock its 27th biggest position. Cullen Capital Management LLC owned 0.16% of Altria Group worth $153,470,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mattson Financial Services LLC acquired a new stake in shares of Altria Group during the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. bought a new position in Altria Group during the second quarter worth $25,000. Carderock Capital Management Inc. bought a new position in Altria Group during the second quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in Altria Group in the second quarter worth $27,000. Finally, Country Trust Bank increased its stake in Altria Group by 400.0% in the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of MO opened at $58.76 on Monday. The firm has a market capitalization of $98.64 billion, a P/E ratio of 11.21, a P/E/G ratio of 3.33 and a beta of 0.48. Altria Group, Inc. has a 52 week low of $50.08 and a 52 week high of $68.60. The stock has a 50 day moving average price of $60.48 and a two-hundred day moving average price of $61.76.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) 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 company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Altria Group’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. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

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

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 7.2%. Altria Group’s dividend payout ratio is presently 80.92%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MO. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. UBS Group dropped their price target 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. Bank of America raised their price objective on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Stifel Nicolaus set a $72.00 price objective on Altria Group in a report on Thursday, August 21st. Finally, The Goldman Sachs Group increased their target price on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. 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 stock. According to MarketBeat.com, Altria Group has a consensus rating of “Hold” and an average price target of $62.33.

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.