Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Altria Group, Inc. $MO

Key Points

• Envestnet Portfolio Solutions cut its Altria stake by 6.9% in the second quarter, selling 27,663 shares and retaining 371,057 shares valued at approximately $26.7 million. Institutional investors collectively own 57.41% of the company.
• Analyst sentiment is mixed, with Altria holding a consensus “Hold” rating and an average price target of $70.11. Recent targets range from $58 to $79.
• Altria raised its quarterly dividend from $1.06 to $1.11 per share, equating to a $4.44 annualized payout and a 6.4% yield, although its payout ratio is high at 93.67%.

Envestnet Portfolio Solutions Inc. lowered its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,057 shares of the company's stock after selling 27,663 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Altria Group were worth $26,698,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Altria Group by 1.1% during the 2nd quarter. BlackRock Inc. now owns 126,073,166 shares of the company's stock worth $9,070,964,000 after acquiring 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 4th quarter. State Street Corp now owns 72,830,531 shares of the company's stock worth $4,275,886,000 after acquiring an additional 1,147,141 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Altria Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 45,984,718 shares of the company's stock worth $2,651,383,000 after acquiring an additional 729,999 shares in the last quarter. GQG Partners LLC purchased a new stake in Altria Group during the second quarter worth approximately $1,806,782,000. Finally, Bank of America Corp DE purchased a new stake in Altria Group during the second quarter worth approximately $1,104,566,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on MO shares. Barclays dropped their price target on shares of Altria Group from $64.00 to $58.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 11th. BTIG Research assumed coverage on shares of Altria Group in a research report on Tuesday, July 21st. They set a "neutral" rating for the company. Jefferies Financial Group upped their target price on shares of Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Finally, UBS Group lifted 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. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $70.11.

Insider Transactions at Altria Group

In other Altria Group news, Director Kathryn McQuade acquired 1,500 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were bought at an average cost of $67.62 per share, for a total transaction of $101,430.00. Following the completion of the purchase, the director owned 114,929 shares in the company, valued at $7,771,498.98. This trade represents a 1.32% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company's stock.

Altria Group Stock Up 0.3%

MO traded up $0.22 during trading on Wednesday, hitting $68.86. 9,559,669 shares of the stock were exchanged, compared to its average volume of 9,261,146. The firm has a market capitalization of $114.98 billion, a P/E ratio of 14.53, a PEG ratio of 2.43 and a beta of 0.45. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $77.06. The stock has a fifty day moving average price of $69.09 and a two-hundred day moving average price of $69.14.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. Altria Group's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. 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 year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Altria Group's previous quarterly dividend of $1.06. Altria Group's payout ratio is 93.67%.

Altria Group Profile

Altria Group, Inc NYSE: MO is a tobacco and nicotine company headquartered in Richmond, Virginia. Through its operating companies, Altria develops, manufactures and markets cigarettes, cigars, oral tobacco products, nicotine pouches and electronic vaping products, with its business focused primarily on the United States.

Altria's smokeable products portfolio includes Marlboro cigarettes, which are manufactured and marketed in the U.S. by Philip Morris USA, as well as Black & Mild cigars through John Middleton.

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