Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Altria Group, Inc. $MO

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Altria Group, Inc. (NYSE:MO) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 254,615 shares of the company’s stock after purchasing an additional 9,658 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Altria Group were worth $16,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Brighton Jones LLC grew its position in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after purchasing an additional 6,954 shares during the period. Focus Partners Wealth boosted its stake in shares of Altria Group by 18.0% in the 1st quarter. Focus Partners Wealth now owns 202,587 shares of the company’s stock worth $12,218,000 after buying an additional 30,860 shares during the last quarter. Modern Wealth Management LLC grew its holdings in shares of Altria Group by 5.3% in the first quarter. Modern Wealth Management LLC now owns 17,461 shares of the company’s stock worth $1,048,000 after acquiring an additional 876 shares during the period. Hodges Capital Management Inc. increased its position in Altria Group by 82.7% during the first quarter. Hodges Capital Management Inc. now owns 7,885 shares of the company’s stock valued at $473,000 after acquiring an additional 3,570 shares during the last quarter. Finally, Invst LLC lifted its holdings in Altria Group by 252.0% in the first quarter. Invst LLC now owns 16,188 shares of the company’s stock valued at $972,000 after acquiring an additional 11,589 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 2.9%

Shares of NYSE:MO opened at $57.54 on Friday. The stock has a 50 day moving average of $58.01 and a 200 day moving average of $61.49. The company has a market cap of $96.59 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47. 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 EPS 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 company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the business earned $1.38 EPS. The firm’s revenue 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. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

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

Altria Group announced that its board has approved a share buyback plan on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings restated 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 raised their price objective for the stock from $61.00 to $63.00 in a report on Friday. Finally, The Goldman Sachs Group upped their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.