Northwestern Mutual Wealth Management Co. Sells 7,907 Shares of Altria Group, Inc. $MO

Northwestern Mutual Wealth Management Co. decreased its position in shares of Altria Group, Inc. (NYSE:MO) by 2.9% in the second quarter, HoldingsChannel reports. The fund owned 266,421 shares of the company’s stock after selling 7,907 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Altria Group were worth $19,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GQG Partners LLC acquired a new stake in shares of Altria Group in the 2nd quarter worth $1,806,782,000. Bank of America Corp DE purchased a new stake in Altria Group in the second quarter valued at about $1,104,566,000. Legal & General Group Plc purchased a new stake in Altria Group in the second quarter valued at about $631,606,000. Charles Schwab Investment Management Inc. boosted its holdings in Altria Group by 10.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company’s stock worth $3,777,931,000 after acquiring an additional 6,265,780 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Altria Group during the second quarter worth about $349,743,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 1.7%

Shares of NYSE:MO opened at $69.63 on Wednesday. Altria Group, Inc. has a 52-week low of $54.70 and a 52-week high of $77.06. The stock has a market cap of $116.26 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 0.45. The business has a 50-day moving average price of $70.04 and a 200-day moving average price of $69.03.

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

Altria Group Increases Dividend

The firm also recently disclosed 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. This represents a $4.44 annualized dividend and a yield of 6.4%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. Altria Group’s dividend payout ratio (DPR) is presently 89.45%.

Analysts Set New Price Targets

MO has been the subject of several research analyst reports. UBS Group increased their price objective on shares of Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Jefferies Financial Group boosted their target price on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. Finally, Barclays lowered their price objective on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.11.

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.