Voya Investment Management LLC Reduces Stock Position in Altria Group, Inc. $MO

Voya Investment Management LLC cut its stake in shares of Altria Group, Inc. (NYSE:MO) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 820,015 shares of the company’s stock after selling 126,096 shares during the period. Voya Investment Management LLC’s holdings in Altria Group were worth $54,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Altria Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock valued at $9,364,216,000 after acquiring an additional 1,599,923 shares during the period. State Street Corp lifted its stake in shares of Altria Group by 1.2% in the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after purchasing an additional 886,583 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Altria Group by 1.7% in the second 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 last quarter. Ameriprise Financial Inc. grew its position in Altria Group by 62.5% during the second 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 during the period. Finally, Legal & General Group Plc increased its holdings in Altria Group by 4.4% during the second quarter. Legal & General Group Plc now owns 8,851,415 shares of the company’s stock valued at $518,958,000 after buying an additional 374,425 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Down 0.4%

Shares of MO stock opened at $58.17 on Friday. The firm has a market cap of $97.65 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.31 and a beta of 0.48. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60. The company’s 50 day moving average is $59.77 and its 200 day moving average is $61.70.

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

Altria Group declared that its board has approved a stock repurchase program on Thursday, October 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Altria Group Dividend Announcement

The company also recently announced 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 7.3%. Altria Group’s payout ratio is currently 80.92%.

Analyst Ratings Changes

MO has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. UBS Group cut their target price on Altria Group from $68.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective 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. Four research 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. According to MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $62.33.

Altria Group 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.