Tectonic Advisors LLC Purchases 9,973 Shares of Altria Group, Inc. $MO

by · The Markets Daily

Tectonic Advisors LLC boosted its position in Altria Group, Inc. (NYSE:MO – Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 198,380 shares of the company’s stock after purchasing an additional 9,973 shares during the period. Altria Group makes up approximately 0.7% of Tectonic Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Tectonic Advisors LLC’s holdings in Altria Group were worth $13,105,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its position in shares of 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 buying an additional 6,954 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Altria Group by 15.5% in the first quarter. Federation des caisses Desjardins du Quebec now owns 89,957 shares of the company’s stock worth $5,399,000 after buying an additional 12,050 shares during the last quarter. Amundi lifted its stake in shares of Altria Group by 14.5% during the first quarter. Amundi now owns 813,353 shares of the company’s stock worth $47,085,000 after buying an additional 103,259 shares during the period. Alliancebernstein L.P. increased its holdings in Altria Group by 97.0% in the 1st quarter. Alliancebernstein L.P. now owns 3,968,342 shares of the company’s stock worth $238,180,000 after buying an additional 1,953,966 shares during the period. Finally, Banque Transatlantique SA lifted its position in Altria Group by 101.3% during the first quarter. Banque Transatlantique SA now owns 14,893 shares of the company’s stock valued at $826,000 after purchasing an additional 7,496 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO opened at $57.67 on Friday. The stock has a 50 day moving average price of $58.61 and a 200 day moving average price of $61.61. Altria Group, Inc. has a one year low of $50.08 and a one year high of $68.60. The stock has a market capitalization of $96.81 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.27 and a beta of 0.47.

Altria Group (NYSE:MO – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company posted $1.38 EPS. The firm’s quarterly revenue 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 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed 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 is Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a yield of 7.4%. Altria Group’s dividend payout ratio is presently 80.92%.

Altria Group declared that its Board of Directors has authorized a stock buyback program on Thursday, October 30th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on MO shares. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. UBS Group decreased their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, The Goldman Sachs Group raised 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. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.33.

Read Our Latest Analysis on MO

Altria Group Profile

(Free Report)

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.

See Also

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