Convergence Investment Partners LLC Acquires 27,502 Shares of Altria Group, Inc. $MO

Key Points

• Convergence Investment Partners increased its Altria stake by 38% in the second quarter, adding 27,502 shares to own 99,877 shares valued at approximately $7.2 million.
• Institutional investors own 57.41% of Altria, with several major funds—including Charles Schwab, Assenagon, Marshall Wace, Vanguard and Bank of Nova Scotia—also increasing their positions.
• Altria reported quarterly revenue of $5.36 billion, slightly above estimates, but EPS of $1.48 missed expectations. Analysts maintain a consensus “Hold” rating with an average price target of $70.11, while the stock recently opened at $65.72.

Convergence Investment Partners LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 38.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,877 shares of the company's stock after acquiring an additional 27,502 shares during the quarter. Convergence Investment Partners LLC's holdings in Altria Group were worth $7,186,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MO. Charles Schwab Investment Management Inc. raised its stake in shares of Altria Group by 10.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company's stock valued at $3,777,931,000 after acquiring an additional 6,265,780 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Altria Group by 3,691.2% during the second quarter. Assenagon Asset Management S.A. now owns 3,606,561 shares of the company's stock valued at $259,492,000 after purchasing an additional 3,511,430 shares in the last quarter. Marshall Wace LLP increased its holdings in Altria Group by 286.7% during the third quarter. Marshall Wace LLP now owns 4,479,699 shares of the company's stock valued at $295,929,000 after buying an additional 3,321,262 shares during the period. Vanguard Group Inc. boosted its position in Altria Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company's stock valued at $9,282,143,000 after acquiring an additional 1,903,530 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in shares of Altria Group by 301.4% in the 4th quarter. Bank of Nova Scotia now owns 2,416,142 shares of the company's stock worth $139,315,000 after acquiring an additional 1,814,224 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of MO opened at $65.72 on Monday. The stock has a 50-day moving average of $70.83 and a two-hundred day moving average of $68.73. The stock has a market cap of $109.74 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.33 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.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The firm had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. Analysts predict that Altria Group, Inc. will post 5.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MO has been the subject of several analyst reports. Jefferies Financial Group increased their price target 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 reiterated a "buy" rating and set a $77.00 price objective on shares of Altria Group in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $60.00 to $66.00 and gave the company a "hold" rating in a research report on Monday, May 4th. UBS Group raised their price target on Altria Group from $76.00 to $79.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Citigroup boosted their price target on Altria Group from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $70.11.

Insiders Place Their Bets

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of Altria Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the transaction, the director owned 73,809 shares in the company, valued at approximately $5,332,700.25. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ellen R. Strahlman sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the transaction, the director directly 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 SEC filing for this sale provides additional information. 0.10% of the stock is owned by corporate insiders.

Altria Group Company 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.

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