Resona Asset Management Co. Ltd. Grows Position in Altria Group, Inc. $MO

Resona Asset Management Co. Ltd. grew its position in Altria Group, Inc. (NYSE:MO) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,548 shares of the company’s stock after purchasing an additional 13,178 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Altria Group were worth $34,449,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MO. Darwin Wealth Management LLC purchased a new position in Altria Group in the second quarter valued at approximately $27,000. Navalign LLC purchased a new stake in Altria Group during the fourth quarter worth approximately $28,000. EMC Capital Management purchased a new stake in Altria Group during the third quarter worth approximately $33,000. Creative Capital Management Investments LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $29,000. Finally, Miller Capital Partners Inc. acquired a new stake in shares of Altria Group in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares in the company, valued at $1,821,401.12. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ennis Debra J. Kelly sold 5,790 shares of Altria Group stock in a transaction dated Tuesday, May 26th. The stock was 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 approximately $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. The company has a market capitalization of $121.58 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. The company has a 50 day moving average of $71.43 and a two-hundred day moving average of $66.61. Altria Group, Inc. has a 52-week low of $54.70 and a 52-week high of $74.56.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, April 30th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.58 billion. Altria Group had a net margin of 34.34% and a negative return on equity of 298.69%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.68 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a $1.06 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a yield of 5.8%. Altria Group’s payout ratio is currently 88.70%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MO. Morgan Stanley set a $71.00 target price on shares of Altria Group in a research note on Friday, May 1st. Jefferies Financial Group upped their price target 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. Bank of America increased their price target on Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a report on Friday, April 10th. UBS Group raised their price objective on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus boosted their price objective on Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Five research 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. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $70.78.

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.