Altria Group, Inc. $MO Shares Acquired by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its Altria stake by 32.2% in the first quarter, purchasing 265,221 additional shares to hold 1.09 million shares valued at approximately $71.8 million. Institutional investors and hedge funds collectively own 57.41% of Altria.
• Analysts maintain a consensus “Hold” rating, with an average price target of $70.78. Recent targets range from $60 to $77, while Altria shares opened at $72.99 and remain near their 52-week high of $75.28.
• Altria beat quarterly earnings expectations, reporting $1.32 EPS and $4.76 billion in revenue, while revenue rose 5.3% year over year. The company also pays a $1.06 quarterly dividend, equal to a 5.8% yield, though its payout ratio is high at 88.7%.

Lazard Asset Management LLC lifted its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 32.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088,444 shares of the company's stock after purchasing an additional 265,221 shares during the period. Lazard Asset Management LLC owned about 0.07% of Altria Group worth $71,826,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in Altria Group during the second quarter worth $27,000. Navalign LLC purchased a new stake in Altria Group during the 4th quarter worth about $28,000. Creative Capital Management Investments LLC purchased a new stake in Altria Group during the 4th quarter worth about $29,000. Hughes Financial Services LLC raised its stake in Altria Group by 62.9% in the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company's stock valued at $29,000 after purchasing an additional 197 shares during the last quarter. Finally, Miller Capital Partners Inc. acquired a new position in Altria Group in the 4th quarter valued at about $29,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on MO. Barclays upped their target price on shares of Altria Group from $63.00 to $64.00 and gave the company an "underweight" rating in a report on Friday, May 15th. The Goldman Sachs Group reissued a "buy" rating and issued a $77.00 price objective on shares of Altria Group in a research report on Thursday, April 30th. BTIG Research started coverage on shares of Altria Group in a research report on Tuesday, July 21st. They issued a "neutral" rating for the company. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Finally, Jefferies Financial Group raised their target price 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. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $70.78.

Altria Group Trading Down 0.0%

Altria Group stock opened at $72.99 on Tuesday. The stock has a fifty day moving average price of $71.90 and a 200 day moving average price of $67.95. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $75.28. The firm has a market capitalization of $121.88 billion, a P/E ratio of 15.27, a PEG ratio of 2.64 and a beta of 0.45.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.23 EPS. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.7 EPS for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, June 15th. Altria Group's dividend payout ratio is presently 88.70%.

Insider Activity at Altria Group

In related 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the business'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 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 ownership of the stock. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.