Cresset Asset Management LLC Increases Holdings in Altria Group, Inc. $MO

Key Points

• Cresset Asset Management LLC increased its stake in Altria Group by 98.0% in Q1, owning 288,238 shares worth approximately $17.6 million.
• Altria reported an EPS of $1.44 for the last quarter, surpassing expectations, with revenues of $5.29 billion, slightly above analyst predictions.
• Analysts have varied views on Altria, with target prices ranging from $47.00 to $62.00 and an average target price of $59.13, reflecting a general "Hold" rating.

Cresset Asset Management LLC increased its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 98.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,238 shares of the company's stock after purchasing an additional 142,691 shares during the quarter. Cresset Asset Management LLC's holdings in Altria Group were worth $17,594,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Dynamic Financial Group acquired a new position in Altria Group during the 1st quarter valued at about $390,000. Forvis Mazars Wealth Advisors LLC boosted its stake in Altria Group by 37.5% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 16,632 shares of the company's stock worth $998,000 after purchasing an additional 4,540 shares during the period. Boston Family Office LLC grew its stake in shares of Altria Group by 7.8% during the 1st quarter. Boston Family Office LLC now owns 13,779 shares of the company's stock worth $827,000 after acquiring an additional 1,000 shares in the last quarter. Ethic Inc. grew its stake in shares of Altria Group by 19.2% during the 1st quarter. Ethic Inc. now owns 36,520 shares of the company's stock worth $2,147,000 after acquiring an additional 5,888 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Altria Group by 6.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,379 shares of the company's stock worth $623,000 after acquiring an additional 639 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Needham & Company LLC raised Altria Group to a "hold" rating in a report on Thursday, May 22nd. Stifel Nicolaus lifted their target price on Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Barclays lifted their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Wall Street Zen cut Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Citigroup lifted their target price on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $59.13.

Altria Group Stock Up 0.8%

MO traded up $0.5170 during trading on Tuesday, hitting $66.5070. The company's stock had a trading volume of 6,395,470 shares, compared to its average volume of 8,739,701. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $66.60. The stock's fifty day moving average price is $60.61 and its 200-day moving average price is $58.50. The firm has a market capitalization of $111.72 billion, a P/E ratio of 12.86, a PEG ratio of 3.55 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.37 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.