Renaissance Technologies LLC decreased its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 20.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,676,500 shares of the company’s stock after selling 443,500 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Altria Group worth $110,632,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Darwin Wealth Management LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $27,000. Navalign LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $29,000. Hughes Financial Services LLC raised its holdings in Altria Group by 62.9% in the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 197 shares during the period. Finally, Miller Capital Partners Inc. purchased a new stake in Altria Group in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.
Altria Group Stock Up 1.2%
Shares of MO stock opened at $72.96 on Friday. The stock has a market capitalization of $121.84 billion, a PE ratio of 15.26, a P/E/G ratio of 2.64 and a beta of 0.45. The firm has a 50 day moving average of $71.91 and a two-hundred day moving average of $67.75. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $75.28.
Altria Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, June 15th. Altria Group’s dividend payout ratio (DPR) is 88.70%.
Key Headlines Impacting Altria Group
Here are the key news stories impacting Altria Group this week:
- Positive Sentiment: Altria is approaching earnings with expectations for higher revenue and year-over-year EPS growth, which supports the case for continued fundamental strength. Altria Group (MO) Nears Earnings, Is The Recent Rally Already Priced In?
- Positive Sentiment: The stock has outperformed over the past year, helped by a strong year-to-date gain and solid total shareholder return, reinforcing momentum around the name. Altria Group (MO) Nears Earnings, Is The Recent Rally Already Priced In?
- Neutral Sentiment: Multiple pre-earnings previews say investors should not assume a blowout report, noting Altria does not appear to have the strongest setup for an earnings beat. Altria (MO) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
- Neutral Sentiment: Shares are being compared with consumer staples peers, with coverage suggesting the stock’s relative performance is a key focus rather than a major new catalyst. Is Altria Group (MO) Stock Outpacing Its Consumer Staples Peers This Year?
- Negative Sentiment: One analyst report downgraded Altria, arguing that the stock’s strong outperformance has made it look expensive, which could pressure valuation sentiment. Altria: Outperformance Makes It Pricey (Rating Downgrade)
Analyst Upgrades and Downgrades
MO has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $77.00 price target on shares of Altria Group in a research report on Thursday, April 30th. Morgan Stanley set a $71.00 price objective on shares of Altria Group in a research report on Friday, May 1st. Jefferies Financial Group lifted their target price on shares of Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Stifel Nicolaus boosted their target price on Altria Group from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Citigroup boosted their target price on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.78.
Check Out Our Latest Research Report on Altria Group
Insider Activity
In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the sale, the director owned 73,809 shares in the company, valued at $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the transaction, the director directly owned 25,102 shares of the company’s stock, valued at $1,821,401.12. This trade represents a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.
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.
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