Massachusetts Financial Services Co. MA Acquires 11,492 Shares of Altria Group, Inc. $MO

by · The Markets Daily

Massachusetts Financial Services Co. MA increased its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,707,718 shares of the company’s stock after acquiring an additional 11,492 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Altria Group were worth $112,812,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted 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 in the last quarter. State Street Corp lifted its position in shares of Altria Group by 1.2% during the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after buying an additional 886,583 shares during the period. Geode Capital Management LLC lifted its position in shares of Altria Group by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 44,724,475 shares of the company’s stock worth $2,620,229,000 after buying an additional 764,221 shares during the period. Ameriprise Financial Inc. boosted its stake in Altria Group by 62.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock valued at $954,446,000 after buying an additional 6,302,819 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Altria Group by 4.4% in the second quarter. Legal & General Group Plc now owns 8,851,415 shares of the company’s stock valued at $518,958,000 after acquiring an additional 374,425 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Finally, UBS Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and upped their price objective 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 issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus target price of $62.56.

Get Our Latest Stock Report on MO

Altria Group Stock Down 1.0%

Altria Group stock opened at $61.15 on Wednesday. The stock has a 50-day simple moving average of $58.49 and a 200 day simple moving average of $61.60. The stock has a market capitalization of $102.66 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 3.43 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 – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The firm had revenue of $5.25 billion for 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 quarter in the prior year, the firm earned $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.9%. The ex-dividend date was Friday, December 26th. Altria Group’s payout ratio is 80.92%.

Altria Group announced that its board has approved a stock buyback plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.

Featured Stories

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).