Altria Group, Inc. $MO Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in Altria Group, Inc. (NYSE:MO) by 13.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 820,015 shares of the company’s stock after selling 126,096 shares during the period. Voya Investment Management LLC’s holdings in Altria Group were worth $54,170,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new stake in Altria Group during the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. purchased a new position in Altria Group during the second quarter worth approximately $25,000. Carderock Capital Management Inc. acquired a new position in shares of Altria Group during the 2nd quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Altria Group in the second quarter worth approximately $27,000. Finally, Country Trust Bank raised its holdings in Altria Group by 400.0% in the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America increased their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, UBS Group cut their price target 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. 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.com, the stock presently has an average rating of “Hold” and an average target price of $62.33.

Altria Group Stock Performance

NYSE:MO opened at $58.17 on Friday. Altria Group, Inc. has a 1 year low of $50.08 and a 1 year high of $68.60. The stock has a fifty day moving average price of $59.77 and a two-hundred day moving average price of $61.70. The stock has a market capitalization of $97.65 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.31 and a beta of 0.48.

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

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

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders 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 dividend on an annualized basis and a yield of 7.3%. Altria Group’s dividend payout ratio (DPR) 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.