Rakuten Investment Management Inc. Acquires 26,500 Shares of Altria Group, Inc. $MO

Rakuten Investment Management Inc. lifted its position in Altria Group, Inc. (NYSE:MO) by 9.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 299,710 shares of the company’s stock after purchasing an additional 26,500 shares during the period. Rakuten Investment Management Inc.’s holdings in Altria Group were worth $20,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AIA Group Ltd increased its stake in shares of Altria Group by 5.8% in the third quarter. AIA Group Ltd now owns 3,607 shares of the company’s stock worth $243,000 after acquiring an additional 198 shares during the period. Provenance Wealth Advisors LLC boosted its holdings in Altria Group by 1,623.4% in the third quarter. Provenance Wealth Advisors LLC now owns 5,670 shares of the company’s stock valued at $382,000 after purchasing an additional 5,341 shares during the last quarter. Hughes Financial Services LLC grew its position in Altria Group by 34.3% during the 3rd quarter. Hughes Financial Services LLC now owns 806 shares of the company’s stock worth $54,000 after purchasing an additional 206 shares during the period. Associated Banc Corp purchased a new position in shares of Altria Group during the 3rd quarter valued at about $3,372,000. Finally, Integrity Alliance LLC. lifted its holdings in shares of Altria Group by 10.8% in the 3rd quarter. Integrity Alliance LLC. now owns 35,341 shares of the company’s stock valued at $2,380,000 after buying an additional 3,433 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Up 1.4%

MO stock opened at $78.02 on Thursday. Altria Group, Inc. has a twelve month low of $54.70 and a twelve month high of $79.81. The business has a 50 day simple moving average of $71.04 and a 200-day simple moving average of $68.99. The company has a market capitalization of $129.78 billion, a P/E ratio of 16.12, a PEG ratio of 2.61 and a beta of 0.43.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a negative return on equity of 330.66% and a net margin of 34.51%. Altria Group’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. Research analysts predict that Altria Group, Inc. will post 5.70 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th were issued a $1.11 dividend. This is an increase from Altria Group’s previous quarterly dividend of $1.06. This represents a $4.44 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Altria Group’s dividend payout ratio is 91.74%.

Analyst Ratings Changes

Several research firms have recently issued reports on MO. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Monday, October 12th. UBS Group upped their price objective on shares of Altria Group from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Freedom Broker raised shares of Altria Group to a “hold” rating in a report on Wednesday, September 16th. Citigroup lifted their target price on shares of Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Finally, Barclays boosted their target price on shares of Altria Group from $58.00 to $60.00 and gave the stock an “underweight” rating in a research note on Monday. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.67.

Key Altria Group News

Here are the key news stories impacting Altria Group this week:

• Positive Sentiment: Altria’s October advance was supported by solid earnings, with price increases helping offset a smaller-than-expected decline in cigarette volumes. The company is also continuing share repurchases and dividend increases, which may appeal to income-focused investors. Why Altria Group Shares Bumped 15.9% Higher In October
• Positive Sentiment: Barclays raised its price target on MO, providing a supportive analyst signal, though the report headline does not specify the new target or its rationale. Altria Group Stock Gets Price Target Increase from Barclays
• Neutral Sentiment: Altria filed a universal shelf registration that gives it flexibility to issue debt, warrants or other securities for purposes such as refinancing or general corporate needs. It does not mean an offering is imminent, but future issuance could affect the company’s financing costs or shareholder dilution depending on the securities issued. Why Did Altria Group File A Universal Shelf Registration?
• Negative Sentiment: The 10-year Treasury yield near 4.91% offers investors a comparatively low-risk income alternative, potentially making high-yield dividend stocks like Altria less attractive at the margin. The 10-Year Treasury Yields 4.91%. These 4 Dividend Stocks Pay More

Insider Buying and Selling

In related news, Director Kathryn McQuade bought 1,500 shares of the stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $67.62 per share, with a total value of $101,430.00. Following the purchase, the director owned 114,929 shares in the company, valued at approximately $7,771,498.98. This represents a 1.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by insiders.

About Altria Group

Altria Group, Inc is a U.S.-based consumer products company focused primarily on tobacco, nicotine and related products. Through its operating companies, Altria sells cigarettes, cigars, pipe tobacco, oral tobacco and nicotine products, and electronic vapor products.

Altria’s principal cigarette business is Philip Morris USA, whose portfolio includes Marlboro, Parliament and Virginia Slims. Its other major brands include Copenhagen and Skoal moist smokeless tobacco, Black & Mild cigars, on! nicotine pouches and NJOY electronic cigarettes.