Axxcess Wealth Management LLC Has $1.97 Million Holdings in Altria Group, Inc. $MO

Key Points

• Axxcess Wealth Management reduced its Altria stake by 34.8% in the first quarter, selling 15,931 shares and leaving it with 29,833 shares valued at about $1.97 million.
• Altria’s latest earnings beat expectations, with Q1 EPS of $1.32 versus the $1.25 consensus and revenue of $4.76 billion, up 5.3% year over year.
• The company also declared a quarterly dividend of $1.06 per share, implying an annualized yield of about 5.8%; meanwhile, analyst sentiment remains mixed with an average rating of Hold and a consensus price target of $70.78.

Axxcess Wealth Management LLC lessened its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 34.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,833 shares of the company's stock after selling 15,931 shares during the period. Axxcess Wealth Management LLC's holdings in Altria Group were worth $1,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Childress Capital Advisors LLC lifted its stake in Altria Group by 34.4% in the first quarter. Childress Capital Advisors LLC now owns 16,500 shares of the company's stock valued at $1,089,000 after buying an additional 4,227 shares during the period. Aljian Capital Management LLC grew its position in shares of Altria Group by 5.6% during the 1st quarter. Aljian Capital Management LLC now owns 8,364 shares of the company's stock worth $552,000 after buying an additional 444 shares during the period. Addison Capital Co acquired a new stake in shares of Altria Group during the 1st quarter worth approximately $597,000. Horst & Graben Wealth Management LLC grew its position in shares of Altria Group by 1.5% during the 1st quarter. Horst & Graben Wealth Management LLC now owns 14,062 shares of the company's stock worth $928,000 after buying an additional 201 shares during the period. Finally, Resonant Capital Advisors LLC increased its stake in shares of Altria Group by 26.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 10,959 shares of the company's stock valued at $733,000 after acquiring an additional 2,277 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MO. Jefferies Financial Group boosted their target price on shares of Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a research report on Wednesday, May 27th. The Goldman Sachs Group restated a "buy" rating and issued a $77.00 price target on shares of Altria Group in a report on Thursday, April 30th. Bank of America lifted their price target on shares of Altria Group from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Finally, Barclays increased their price objective on shares of Altria Group from $63.00 to $64.00 and gave the stock an "underweight" rating in a research report on Friday, May 15th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned 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 $70.78.

Insider Transactions at Altria Group

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of Altria Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $418,327.50. Following the transaction, the director directly owned 73,809 shares of the company's stock, valued at $5,332,700.25. The trade was a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the stock in a transaction dated 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. This trade represents a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by insiders.

Altria Group Stock Down 0.2%

Shares of MO opened at $72.81 on Thursday. The business's fifty day moving average is $71.43 and its 200 day moving average is $66.61. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $74.56. The stock has a market cap of $121.58 billion, a P/E ratio of 15.23, a P/E/G ratio of 2.73 and a beta of 0.45.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a $1.06 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.24 annualized dividend and a yield of 5.8%. Altria Group's dividend payout ratio (DPR) is presently 88.70%.

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.

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.