NewEdge Wealth LLC Invests $4.30 Million in Altria Group, Inc. $MO

NewEdge Wealth LLC bought a new stake in Altria Group, Inc. (NYSE:MO) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 59,746 shares of the company’s stock, valued at approximately $4,299,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Altria Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock worth $9,282,143,000 after buying an additional 1,903,530 shares in the last quarter. BlackRock Inc. increased its position in Altria Group by 1.1% in the 2nd quarter. BlackRock Inc. now owns 126,073,166 shares of the company’s stock valued at $9,070,964,000 after acquiring an additional 1,325,175 shares in the last quarter. State Street Corp raised its stake in shares of Altria Group by 1.6% in the fourth 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Altria Group by 1.6% in the fourth 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. 57.41% of the stock is owned by institutional investors.

Insider Activity at Altria Group

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of the firm’s 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 transaction, the director directly owned 73,809 shares of the company’s stock, valued at approximately $5,332,700.25. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,821,401.12. The trade was a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Altria Group Trading Down 1.6%

Shares of NYSE:MO opened at $65.87 on Friday. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $77.06. The stock has a market capitalization of $109.99 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.34 and a beta of 0.46. The business has a 50-day moving average price of $70.20 and a two-hundred day moving average price of $68.81.

Altria Group (NYSE:MO) last issued its earnings results 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 net margin of 33.99% and a negative return on equity of 315.29%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business posted $1.44 EPS. The firm’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 predict that Altria Group, Inc. will post 5.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MO. Barclays decreased their price target on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $77.00 price objective on shares of Altria Group in a report on Thursday, April 30th. BTIG Research began coverage on Altria Group in a research report on Tuesday, July 21st. They issued a “neutral” rating on the stock. Finally, UBS Group lifted their target price on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.