Forvis Mazars Wealth Advisors LLC Raises Holdings in Altria Group, Inc. $MO

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in Altria Group by 37.5%, owning a total of 16,632 shares valued at approximately $998,000.
• Several other institutional investors, including Vanguard Group and GQG Partners LLC, also raised their holdings in Altria Group during the first quarter, with GQG Partners increasing its stake by a remarkable 8,146.4%.
• Altria Group recently reported earnings of $1.44 per share, surpassing estimates, and is expected to post 5.32 earnings per share for the current year.

Forvis Mazars Wealth Advisors LLC raised its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 37.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,632 shares of the company's stock after buying an additional 4,540 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Altria Group were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Sierra Ocean LLC grew its holdings in Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after purchasing an additional 353 shares during the last quarter. Inlight Wealth Management LLC purchased a new stake in Altria Group in the first quarter worth about $31,000. Pinney & Scofield Inc. purchased a new stake in shares of Altria Group in the 4th quarter worth approximately $33,000. TruNorth Capital Management LLC grew its stake in Altria Group by 51.8% in the first quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in shares of Altria Group in the 1st quarter worth approximately $40,000. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MO has been the subject of several recent analyst reports. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and raised their price target for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Needham & Company LLC upgraded Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Stifel Nicolaus increased their target price on shares of Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Barclays lifted their target price on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.13.

Altria Group Trading Up 0.8%

NYSE:MO traded up $0.5170 during mid-day trading on Tuesday, hitting $66.5070. The stock had a trading volume of 6,395,470 shares, compared to its average volume of 8,739,701. The company has a market capitalization of $111.72 billion, a PE ratio of 12.86, a PEG ratio of 3.55 and a beta of 0.59. The stock has a 50-day simple moving average of $60.61 and a two-hundred day simple moving average of $58.50. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $66.60.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.Altria Group's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.