Bank of Nova Scotia acquired a new stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 324,222 shares of the company's stock, valued at approximately $23,328,000.
A number of other institutional investors have also made changes to their positions in MO. GQG Partners LLC acquired a new stake in shares of Altria Group in the second quarter worth $1,806,782,000. Charles Schwab Investment Management Inc. grew its stake in Altria Group by 10.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company's stock valued at $3,777,931,000 after buying an additional 6,265,780 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Altria Group by 3,691.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,606,561 shares of the company's stock valued at $259,492,000 after buying an additional 3,511,430 shares during the last quarter. Marshall Wace LLP raised its holdings in Altria Group by 286.7% in the 3rd quarter. Marshall Wace LLP now owns 4,479,699 shares of the company's stock worth $295,929,000 after acquiring an additional 3,321,262 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Altria Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company's stock worth $9,282,143,000 after acquiring an additional 1,903,530 shares during the period. 57.41% of the stock is owned by institutional investors.
Altria Group Trading Up 3.6%
Shares of NYSE MO opened at $68.46 on Tuesday. The firm has a market capitalization of $114.32 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.34 and a beta of 0.46. Altria Group, Inc. has a one year low of $54.70 and a one year high of $77.06. The business has a fifty day simple moving average of $70.18 and a 200 day simple moving average of $68.89.
Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.35 billion. Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, research analysts anticipate that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
MO has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of Altria Group from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. BTIG Research began coverage on Altria Group in a research report on Tuesday, July 21st. They issued a "neutral" rating on the stock. Stifel Nicolaus lifted their price objective on Altria Group from $68.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Altria Group from $60.00 to $66.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $70.11.
Get Our Latest Analysis on MO
Altria Group Profile
(
Free Report)
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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