Simplicity Wealth LLC Has $3.20 Million Stake in Altria Group, Inc. $MO

Simplicity Wealth LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 22.7% in the third quarter, Holdings Channel.com reports. The firm owned 48,498 shares of the company’s stock after purchasing an additional 8,957 shares during the quarter. Simplicity Wealth LLC’s holdings in Altria Group were worth $3,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MO. Triad Wealth Partners LLC grew its holdings in Altria Group by 9.8% during the 3rd quarter. Triad Wealth Partners LLC now owns 10,794 shares of the company’s stock worth $713,000 after acquiring an additional 966 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of Altria Group by 9.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 18,092 shares of the company’s stock worth $1,195,000 after purchasing an additional 1,541 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Altria Group in the third quarter worth $43,568,000. Cornerstone Wealth Group LLC increased its holdings in Altria Group by 1.5% in the third quarter. Cornerstone Wealth Group LLC now owns 84,146 shares of the company’s stock valued at $5,559,000 after purchasing an additional 1,267 shares during the period. Finally, Brandywine Oak Private Wealth LLC raised its position in Altria Group by 4.6% during the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 5,626 shares of the company’s stock worth $372,000 after purchasing an additional 249 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Altria Group Trading Down 0.1%

NYSE:MO opened at $61.08 on Thursday. Altria Group, Inc. has a 12 month low of $50.08 and a 12 month high of $68.60. The stock has a market capitalization of $102.54 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 3.39 and a beta of 0.47. The firm has a fifty day simple moving average of $58.55 and a two-hundred day simple moving average of $61.60.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 30th. The company reported $1.45 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.31 billion. During the same period last year, the business posted $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. Equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group declared that its board has authorized a stock buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Altria Group Dividend Announcement

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

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.