Axxcess Wealth Management LLC trimmed its stake in Altria Group, Inc. (NYSE:MO – Free Report) by 34.8% during the first quarter, Holdings Channel reports. The fund owned 29,833 shares of the company’s stock after selling 15,931 shares during the period. Axxcess Wealth Management LLC’s holdings in Altria Group were worth $1,969,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of MO. Vanguard Group Inc. raised its stake in shares of Altria Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock valued at $9,282,143,000 after buying an additional 1,903,530 shares during the period. State Street Corp grew its stake in shares of Altria Group by 1.6% during the 4th quarter. State Street Corp now owns 72,830,531 shares of the company’s stock worth $4,275,886,000 after acquiring an additional 1,147,141 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Altria Group by 10.6% in the 4th 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 during the last quarter. Geode Capital Management LLC increased its holdings in Altria Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 45,984,718 shares of the company’s stock worth $2,651,383,000 after acquiring an additional 729,999 shares during the last quarter. Finally, Morgan Stanley raised its stake in Altria Group by 1.5% in the 4th quarter. Morgan Stanley now owns 22,306,173 shares of the company’s stock valued at $1,286,174,000 after acquiring an additional 335,089 shares during the period. 57.41% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on MO. Stifel Nicolaus increased their target price on shares of Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $77.00 price target on shares of Altria Group in a research report on Thursday, April 30th. Citigroup upped their price target on shares of Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. UBS Group raised their price objective on shares of Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Bank of America lifted their price objective on shares of Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $70.78.
Insider Buying and Selling
In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the sale, the director directly owned 73,809 shares in the company, valued at $5,332,700.25. This represents a 7.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total transaction of $145,120.00. Following the completion of the transaction, the director directly owned 25,102 shares of the company’s stock, valued at approximately $1,821,401.12. The trade was a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.
Altria Group Stock Down 0.2%
Shares of NYSE MO opened at $72.81 on Thursday. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $74.56. The business has a 50-day simple moving average of $71.43 and a two-hundred day simple moving average of $66.61. The company has a market cap of $121.58 billion, a P/E ratio of 15.23, a P/E/G ratio of 2.73 and a beta of 0.45.
Altria Group (NYSE:MO – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. Equities research analysts anticipate that Altria Group, Inc. will post 5.68 EPS for the current year.
Altria Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, June 15th. Altria Group’s dividend payout ratio is 88.70%.
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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