Glenview Trust Co Purchases New Position in Altria Group, Inc. $MO

Glenview Trust Co acquired a new position in Altria Group, Inc. (NYSE:MO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 82,092 shares of the company’s stock, valued at approximately $5,907,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MO. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Altria Group in the second quarter worth $26,000. Darwin Wealth Management LLC bought a new position in shares of Altria Group during the second quarter valued at $27,000. Navalign LLC bought a new position in shares of Altria Group during the fourth quarter valued at $28,000. Hughes Financial Services LLC boosted its position in shares of Altria Group by 62.9% during the fourth 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 last quarter. Finally, Miller Capital Partners Inc. purchased a new stake in shares of Altria Group during the fourth quarter valued at $29,000. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

MO stock opened at $67.66 on Friday. The company has a market cap of $112.97 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.45 and a beta of 0.46. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06. The stock’s fifty day moving average price is $70.11 and its 200-day moving average price is $68.95.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.35 billion. Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, analysts expect that Altria Group, Inc. will post 5.67 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.11 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 6.6%. This is an increase from Altria Group’s previous quarterly dividend of $1.06. Altria Group’s dividend payout ratio is presently 89.45%.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group raised their price target on shares of Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $77.00 price target on shares of Altria Group in a research note on Thursday, April 30th. Morgan Stanley set a $71.00 price target on shares of Altria Group in a research note on Friday, May 1st. Finally, Citigroup boosted their price objective on shares of Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $70.11.

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.