Elevation Point Wealth Partners LLC Takes Position in Altria Group, Inc. $MO

Elevation Point Wealth Partners LLC acquired a new position in Altria Group, Inc. (NYSE:MO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 46,709 shares of the company's stock, valued at approximately $3,405,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 purchasing an additional 1,903,530 shares during the period. BlackRock Inc. grew its holdings in Altria Group by 1.1% during the 2nd quarter. BlackRock Inc. now owns 126,073,166 shares of the company's stock valued at $9,070,964,000 after buying an additional 1,325,175 shares in the last quarter. State Street Corp raised its position in shares of Altria Group by 1.6% during the fourth quarter. State Street Corp now owns 72,830,531 shares of the company's stock valued at $4,275,886,000 after buying an additional 1,147,141 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 6,265,780 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Altria Group by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 45,984,718 shares of the company's stock worth $2,651,383,000 after buying an additional 729,999 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research reports. The Goldman Sachs Group restated a "buy" rating and set a $77.00 target price on shares of Altria Group in a research report on Thursday, April 30th. Barclays reduced their price target on shares of Altria Group from $64.00 to $58.00 and set an "underweight" rating on the stock in a report on Tuesday, August 11th. UBS Group boosted their price target on shares of Altria Group from $76.00 to $79.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Stifel Nicolaus raised their price objective on Altria Group from $68.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Altria Group has an average rating of "Hold" and an average target price of $70.11.

Altria Group Price Performance

Shares of MO opened at $68.46 on Tuesday. The stock has a market capitalization of $114.32 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06. The business's 50 day simple moving average is $70.18 and its 200-day simple moving average is $68.89.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The firm's revenue 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. On average, sell-side analysts expect that Altria Group, Inc. will post 5.67 earnings per share for the current year.

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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