Elevation Point Wealth Partners LLC Has $2.93 Million Holdings in Altria Group, Inc. $MO

Key Points

• Elevation Point Wealth Partners LLC increased its stake in Altria Group by 63.4% in the first quarter, ending with 43,819 shares valued at about $2.93 million.
• Several other institutional investors also adjusted their positions in Altria, and hedge funds and institutions now own 57.41% of the company’s stock.
• Altria recently posted better-than-expected earnings and reaffirmed its dividend appeal, including a quarterly payout of $1.06 per share for a 5.8% yield.

Elevation Point Wealth Partners LLC lifted its position in Altria Group, Inc. (NYSE:MO - Free Report) by 63.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,819 shares of the company's stock after acquiring an additional 16,996 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Altria Group were worth $2,931,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Altria Group by 64.7% during the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock valued at $926,000 after buying an additional 6,954 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Altria Group by 86.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company's stock worth $373,000 after acquiring an additional 2,946 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in Altria Group by 6.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company's stock worth $565,000 after acquiring an additional 618 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Altria Group during the 2nd quarter worth about $346,000. Finally, AXA S.A. acquired a new stake in Altria Group during the 2nd quarter worth about $5,752,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Insider Buying and Selling at Altria Group

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of the business's 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 completion of the transaction, the director 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 at the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the company's 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 sale, the director owned 25,102 shares of the company's stock, valued at $1,821,401.12. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

MO has been the topic of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $77.00 target price on shares of Altria Group in a report on Thursday, April 30th. Jefferies Financial Group raised their price target on shares of Altria Group from $50.00 to $60.00 and gave the stock an "underperform" rating in a report on Wednesday, May 27th. 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 research report on Monday, May 4th. Morgan Stanley set a $71.00 price objective on shares of Altria Group in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Five equities 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $70.44.

Altria Group Stock Up 0.1%

Shares of MO stock opened at $72.77 on Friday. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $74.56. The business's 50 day moving average is $71.08 and its two-hundred day moving average is $66.27. The company has a market cap of $121.51 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.72 and a beta of 0.45.

Altria Group (NYSE:MO - Get Free Report) last released 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 company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. As a group, equities analysts expect that Altria Group, Inc. will post 5.68 EPS for the current fiscal year.

Altria Group Dividend Announcement

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

Altria Group 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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