Bank of New York Mellon Corp Has $737.79 Million Stock Holdings in Altria Group, Inc. $MO

Key Points

• Bank of New York Mellon slightly increased its Altria stake in the fourth quarter, ending with 12.8 million shares worth about $737.8 million. Institutional investors overall own 57.41% of Altria’s stock.
• Several analysts have recently raised their price targets on Altria, though the stock’s overall consensus rating remains Hold with an average target of $70.44.
• Altria beat quarterly earnings and revenue estimates, reporting $1.32 EPS on $4.76 billion in revenue, and it also declared a $1.06 quarterly dividend that implies a roughly 6.0% yield.

Bank of New York Mellon Corp lifted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,795,466 shares of the company's stock after purchasing an additional 47,638 shares during the period. Bank of New York Mellon Corp owned 0.76% of Altria Group worth $737,787,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in Altria Group in the 2nd quarter valued at about $27,000. Navalign LLC bought a new stake in Altria Group in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC bought a new stake in Altria Group in the 4th quarter valued at about $29,000. EMC Capital Management bought a new stake in Altria Group in the 3rd quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC boosted its holdings in Altria Group by 79.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 630 shares of the company's stock valued at $36,000 after purchasing an additional 278 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $60.00 to $66.00 and gave the company a "hold" rating in a report on Monday, May 4th. Morgan Stanley set a $71.00 price objective on shares of Altria Group in a report on Friday, May 1st. Citigroup boosted their price objective on shares of Altria Group from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Bank of America boosted their price objective on shares of Altria Group from $72.00 to $73.00 and gave the company a "buy" rating in a report on Friday, April 10th. Finally, Barclays boosted their price objective 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. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $70.44.

Insider Buying and Selling

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the company'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 transaction of $418,327.50. Following the completion of the transaction, the director directly owned 73,809 shares in the company, valued at $5,332,700.25. This represents a 7.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the transaction, the director owned 25,102 shares of the company's stock, valued at approximately $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company's stock.

Altria Group Trading Up 1.7%

Shares of Altria Group stock opened at $70.45 on Thursday. The company has a 50 day moving average of $68.50 and a 200-day moving average of $64.31. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $74.56. The company has a market cap of $117.64 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.59 and a beta of 0.46.

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 for the quarter, topping 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 company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm'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. Research analysts forecast that Altria Group, Inc. will post 5.68 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, June 15th. Altria Group's dividend payout ratio is 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.

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