Altria Group, Inc. $MO Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in shares of Altria Group, Inc. (NYSE:MO) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 253,823 shares of the company’s stock after purchasing an additional 8,254 shares during the quarter. iA Global Asset Management Inc.’s holdings in Altria Group were worth $16,768,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in Altria Group during the second quarter worth approximately $27,000. Country Trust Bank grew its position in shares of Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Anfield Capital Management LLC increased its holdings in shares of Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after acquiring an additional 415 shares during the period. Winnow Wealth LLC purchased a new stake in Altria Group in the 2nd quarter valued at $35,000. Finally, WFA of San Diego LLC acquired a new stake in Altria Group during the 2nd quarter worth $39,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Down 0.1%

NYSE MO opened at $61.02 on Friday. The stock has a market capitalization of $102.43 billion, a P/E ratio of 11.65, a P/E/G ratio of 3.38 and a beta of 0.47. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60. The firm has a 50-day moving average price of $58.62 and a 200 day moving average price of $61.60.

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 analysts’ consensus estimates 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 analyst estimates of $5.31 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were given a $1.06 dividend. The ex-dividend date was Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 6.9%. Altria Group’s dividend payout ratio is presently 80.92%.

Altria Group declared that its board has authorized a share buyback program on Thursday, October 30th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase 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 stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on MO shares. UBS Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $61.00 to $63.00 in a research note on Friday, January 9th. The Goldman Sachs Group boosted their price target on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Five equities 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.56.

Altria Group Company Profile

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.