Sterling Investment Management LLC Buys Shares of 13,652 Altria Group, Inc. $MO

Sterling Investment Management LLC purchased a new position in Altria Group, Inc. (NYSE:MO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,652 shares of the company’s stock, valued at approximately $902,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC grew its stake in Altria Group by 9.1% in the 3rd quarter. Merit Financial Group LLC now owns 141,730 shares of the company’s stock valued at $9,363,000 after buying an additional 11,831 shares in the last quarter. 3Chopt Investment Partners LLC grew its stake in Altria Group by 1.6% during the third quarter. 3Chopt Investment Partners LLC now owns 72,816 shares of the company’s stock valued at $4,887,000 after acquiring an additional 1,175 shares in the last quarter. Security National Bank increased its holdings in Altria Group by 438.2% during the 3rd quarter. Security National Bank now owns 10,937 shares of the company’s stock worth $722,000 after acquiring an additional 8,905 shares during the period. Calamos Wealth Management LLC lifted its stake in Altria Group by 411.9% in the 3rd quarter. Calamos Wealth Management LLC now owns 20,070 shares of the company’s stock worth $1,326,000 after purchasing an additional 16,149 shares in the last quarter. Finally, Calamos Advisors LLC boosted its holdings in Altria Group by 2.4% in the 3rd quarter. Calamos Advisors LLC now owns 60,140 shares of the company’s stock valued at $3,973,000 after purchasing an additional 1,390 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Altria Group Trading Up 0.2%

Shares of Altria Group stock opened at $57.75 on Wednesday. The firm has a market capitalization of $96.95 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 3.27 and a beta of 0.48. The business’s 50-day moving average price is $58.89 and its 200-day moving average price is $61.67. Altria Group, Inc. has a 12 month low of $50.08 and a 12 month high of $68.60.

Altria Group (NYSE:MO) last released its earnings results 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 during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the company posted $1.38 EPS. Altria Group’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. As a group, analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, December 26th. Altria Group’s dividend payout ratio is 80.92%.

Altria Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors 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.