Rakuten Investment Management Inc. Buys New Stake in Altria Group, Inc. $MO

Rakuten Investment Management Inc. purchased a new stake in Altria Group, Inc. (NYSE:MO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 659,529 shares of the company’s stock, valued at approximately $43,568,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Darwin Wealth Management LLC purchased a new stake in Altria Group during the second quarter worth approximately $27,000. Country Trust Bank raised its holdings in Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Anfield Capital Management LLC raised its holdings in Altria Group by 334.7% during the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after purchasing an additional 415 shares in the last quarter. Winnow Wealth LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth approximately $35,000. Finally, WFA of San Diego LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $39,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of NYSE:MO opened at $61.15 on Wednesday. The company has a 50-day simple moving average of $58.49 and a 200-day simple moving average of $61.60. 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 $102.66 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.43 and a beta of 0.47.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (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 negative return on equity of 319.43% and a net margin of 37.89%.The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders 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 6.9%. Altria Group’s payout ratio is presently 80.92%.

Altria Group declared that its board has authorized a share repurchase plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. UBS Group raised Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $61.00 to $63.00 in a report on Friday, January 9th. The Goldman Sachs Group lifted their target price on Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.56.

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.