Narwhal Capital Management Decreases Holdings in Altria Group, Inc. $MO

Narwhal Capital Management trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 45.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,045 shares of the company’s stock after selling 10,000 shares during the quarter. Narwhal Capital Management’s holdings in Altria Group were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWA Asset Management Group LLC increased its stake in shares of Altria Group by 8.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock worth $22,158,000 after purchasing an additional 26,624 shares in the last quarter. Vanguard Group Inc. grew its holdings in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock valued at $9,364,216,000 after purchasing an additional 1,599,923 shares during the period. TigerOak Management L.L.C. increased its position in Altria Group by 43.0% in the second 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 purchased a new stake in Altria Group in the second quarter worth about $126,471,000. Finally, Fisher Asset Management LLC raised its stake in shares of Altria Group by 31.5% in the second 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. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Up 2.9%

Shares of MO opened at $57.54 on Friday. The business’s 50 day moving average is $58.01 and its 200 day moving average is $61.48. Altria Group, Inc. has a 12-month low of $50.08 and a 12-month high of $68.60. The company has a market capitalization of $96.59 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.10 and a beta of 0.47.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.31 billion. Altria Group had a net margin of 37.89% and a negative return on equity of 319.43%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group announced that its Board of Directors has initiated a stock buyback program on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Friday, December 26th. Altria Group’s payout ratio is currently 80.92%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. UBS Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $61.00 to $63.00 in a report on Friday. Finally, The Goldman Sachs Group increased their price objective on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $62.56.

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.