Pictet Asset Management Holding SA boosted its position in Altria Group, Inc. (NYSE:MO – Free Report) by 3.4% during the 2nd quarter, Holdings Channel reports. The fund owned 795,152 shares of the company’s stock after acquiring an additional 25,898 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Altria Group were worth $57,211,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in MO. Acorn Wealth Advisors LLC grew its holdings in Altria Group by 7.4% during the 2nd quarter. Acorn Wealth Advisors LLC now owns 10,970 shares of the company’s stock worth $789,000 after acquiring an additional 760 shares in the last quarter. Hourglass Capital LLC lifted its position in shares of Altria Group by 33.5% during the 2nd quarter. Hourglass Capital LLC now owns 78,090 shares of the company’s stock worth $5,619,000 after purchasing an additional 19,607 shares during the last quarter. Quadrant Private Wealth Management LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth $217,000. Legacy Financial Group Inc. acquired a new position in shares of Altria Group during the second quarter worth $212,000. Finally, Pinkerton Wealth LLC acquired a new position in shares of Altria Group during the second quarter worth $230,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.
Insider Buying and Selling
In other news, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the sale, the director directly owned 73,809 shares of the company’s stock, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the transaction, the director owned 25,102 shares in the company, valued at approximately $1,821,401.12. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company’s stock.
Altria Group Price Performance
Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the business posted $1.44 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, equities analysts expect that Altria Group, Inc. will post 5.67 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
MO has been the topic of a number of analyst reports. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Stifel Nicolaus upped their price objective on Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Morgan Stanley set a $71.00 price objective on Altria Group in a report on Friday, May 1st. Barclays cut their target price on Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $70.11.
View Our Latest Report on Altria Group
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.
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