Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in Altria Group, Inc. $MO

Sumitomo Mitsui Trust Group Inc. increased its position in Altria Group, Inc. (NYSE:MO) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,522,209 shares of the company’s stock after acquiring an additional 44,303 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Altria Group worth $232,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Altria Group by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares in the last quarter. State Street Corp boosted its position in shares of Altria Group by 1.2% during the second quarter. State Street Corp now owns 72,367,263 shares of the company’s stock valued at $4,315,438,000 after buying an additional 886,583 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Altria Group by 1.7% during the second quarter. Geode Capital Management LLC now owns 44,724,475 shares of the company’s stock valued at $2,620,229,000 after buying an additional 764,221 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Altria Group by 62.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock worth $954,446,000 after buying an additional 6,302,819 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Altria Group by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,851,415 shares of the company’s stock worth $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 Up 1.7%

NYSE MO opened at $58.53 on Tuesday. The company has a 50-day moving average price of $58.04 and a 200-day moving average price of $61.50. Altria Group, Inc. has a 52 week low of $50.08 and a 52 week high of $68.60. The firm has a market capitalization of $98.25 billion, a P/E ratio of 11.17, a PEG ratio of 3.19 and a beta of 0.47.

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. 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 during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The firm’s quarterly revenue 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. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group declared that its board has approved a stock repurchase program on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Friday, December 26th. Altria Group’s dividend payout ratio is 80.92%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. 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 report on Friday. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock 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.