Altria Group, Inc. $MO Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its holdings in Altria Group, Inc. (NYSE:MO) by 64.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,462 shares of the company’s stock after acquiring an additional 168,351 shares during the period. iA Global Asset Management Inc.’s holdings in Altria Group were worth $31,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its holdings in Altria Group by 5.8% in the first quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock valued at $191,000 after purchasing an additional 143 shares during the last quarter. Angeles Wealth Management LLC raised its stake in shares of Altria Group by 1.3% during the 2nd quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company’s stock valued at $821,000 after buying an additional 146 shares during the last quarter. Bernardo Wealth Planning LLC lifted its holdings in shares of Altria Group by 4.6% in the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company’s stock valued at $243,000 after buying an additional 149 shares during the period. Johnson & White Wealth Management LLC lifted its holdings in shares of Altria Group by 1.2% in the 4th quarter. Johnson & White Wealth Management LLC now owns 12,704 shares of the company’s stock valued at $733,000 after buying an additional 154 shares during the period. Finally, Kanawha Capital Management LLC boosted its stake in shares of Altria Group by 0.8% in the fourth quarter. Kanawha Capital Management LLC now owns 19,546 shares of the company’s stock worth $1,127,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MO. Jefferies Financial Group raised their target price on Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, May 27th. UBS Group upped their price objective on Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Stifel Nicolaus raised their price objective on shares of Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Morgan Stanley set a $71.00 target price on shares of Altria Group in a report on Friday, May 1st. Finally, Citigroup boosted their target price 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. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.11.

Insiders Place Their Bets

In related news, Director Ellen R. Strahlman sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the sale, the director 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction 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. The trade was a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Altria Group Trading Up 1.0%

Shares of MO stock opened at $65.72 on Friday. The company has a market capitalization of $109.74 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.33 and a beta of 0.46. The business’s 50 day moving average is $70.83 and its two-hundred day moving average is $68.69. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $77.06.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, research analysts predict that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

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.