Sumitomo Mitsui DS Asset Management Company Ltd Buys 9,658 Shares of Altria Group, Inc. $MO

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Altria Group, Inc. (NYSE:MO) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,615 shares of the company’s stock after buying 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MO. Global X Japan Co. Ltd. purchased a new position in shares of Altria Group in the 2nd quarter valued at approximately $25,000. Carderock Capital Management Inc. purchased a new stake in Altria Group in the second quarter worth $26,000. Darwin Wealth Management LLC bought a new position in Altria Group in the second quarter worth $27,000. Country Trust Bank lifted its position in Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after buying an additional 400 shares during the period. Finally, Anfield Capital Management LLC boosted its holdings in shares of Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

NYSE:MO opened at $57.54 on Friday. The firm has a market cap of $96.59 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.19 and a beta of 0.47. Altria Group, Inc. has a fifty-two week low of $50.08 and a fifty-two week high of $68.60. The firm has a 50-day simple moving average of $58.01 and a two-hundred day simple moving average of $61.49.

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

Altria Group announced that its board has approved a stock repurchase 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a $1.06 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 7.4%. Altria Group’s dividend payout ratio (DPR) is presently 80.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MO shares. UBS Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $61.00 to $63.00 in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted 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 equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.