Commonwealth Equity Services LLC Sells 163,882 Shares of Altria Group, Inc. $MO

Commonwealth Equity Services LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,432,828 shares of the company’s stock after selling 163,882 shares during the period. Commonwealth Equity Services LLC owned 0.09% of Altria Group worth $94,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares during the period. TigerOak Management L.L.C. boosted its holdings in shares of Altria Group by 43.0% during the 2nd quarter. TigerOak Management L.L.C. now owns 13,005 shares of the company’s stock worth $762,000 after buying an additional 3,908 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $126,471,000. Fisher Asset Management LLC grew its position in shares of Altria Group by 31.5% during the 2nd quarter. Fisher Asset Management LLC now owns 97,389 shares of the company’s stock worth $5,710,000 after buying an additional 23,331 shares during the period. Finally, Silver Oak Securities Incorporated increased its stake in shares of Altria Group by 155.4% in the 3rd quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company’s stock valued at $2,062,000 after acquiring an additional 18,997 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Altria Group Stock Performance

Shares of MO opened at $56.24 on Tuesday. 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 $58.32 and a two-hundred day moving average price of $61.62. The firm has a market capitalization of $94.41 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.18 and a beta of 0.47.

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. The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Altria Group had a negative return on equity of 319.43% and a net margin of 37.89%.Altria Group’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 earnings per share. 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 approved a stock buyback program on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be issued a dividend of $1.06 per share. The ex-dividend date is Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 7.5%. Altria Group’s payout ratio is 80.92%.

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.