London Co. of Virginia Cuts Stock Holdings in Altria Group, Inc. $MO

Key Points

• London Co. of Virginia reduced its Altria stake by 6.4% in the first quarter, selling 246,848 shares and leaving it with 3.59 million shares worth about $237.1 million.
• Several large institutional investors still hold major positions in Altria, and the stock is 57.41% owned by institutions and hedge funds, indicating broad professional ownership despite the trim by London Co. of Virginia.
• Altria recently beat quarterly earnings and revenue estimates and continues to offer a high dividend yield of 5.8%, but analyst sentiment remains mixed with an overall Hold rating and a consensus price target of $70.78.

London Co. of Virginia cut its position in Altria Group, Inc. (NYSE:MO - Free Report) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,592,274 shares of the company's stock after selling 246,848 shares during the period. Altria Group accounts for 1.5% of London Co. of Virginia's holdings, making the stock its 26th largest position. London Co. of Virginia owned about 0.22% of Altria Group worth $237,055,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MO. Vanguard Group Inc. boosted its stake in Altria Group by 1.2% during 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 last quarter. State Street Corp raised its position in shares of Altria Group by 1.6% in 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. lifted its stake in shares of Altria Group by 10.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company's stock worth $3,777,931,000 after buying an additional 6,265,780 shares in the last quarter. Geode Capital Management LLC lifted its stake 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. Finally, Morgan Stanley boosted its position in Altria Group by 1.5% during the fourth quarter. Morgan Stanley now owns 22,306,173 shares of the company's stock worth $1,286,174,000 after acquiring an additional 335,089 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Altria Group

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 73,809 shares of the company's stock, valued at $5,332,700.25. This represents a 7.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total value of $145,120.00. Following the sale, the director owned 25,102 shares in the company, valued at approximately $1,821,401.12. This trade represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.10% of the company's stock.

Key Stories Impacting Altria Group

Here are the key news stories impacting Altria Group this week:

• Positive Sentiment: Altria is approaching earnings with expectations for higher revenue and year-over-year EPS growth, which supports the case for continued fundamental strength. Altria Group (MO) Nears Earnings, Is The Recent Rally Already Priced In?
• Positive Sentiment: The stock has outperformed over the past year, helped by a strong year-to-date gain and solid total shareholder return, reinforcing momentum around the name. Altria Group (MO) Nears Earnings, Is The Recent Rally Already Priced In?
• Neutral Sentiment: Multiple pre-earnings previews say investors should not assume a blowout report, noting Altria does not appear to have the strongest setup for an earnings beat. Altria (MO) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Neutral Sentiment: Shares are being compared with consumer staples peers, with coverage suggesting the stock’s relative performance is a key focus rather than a major new catalyst. Is Altria Group (MO) Stock Outpacing Its Consumer Staples Peers This Year?
• Negative Sentiment: One analyst report downgraded Altria, arguing that the stock’s strong outperformance has made it look expensive, which could pressure valuation sentiment. Altria: Outperformance Makes It Pricey (Rating Downgrade)

Altria Group Stock Up 1.2%

NYSE:MO opened at $72.96 on Friday. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $75.28. The stock's fifty day moving average is $71.91 and its two-hundred day moving average is $67.75. The stock has a market capitalization of $121.84 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.64 and a beta of 0.45.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The business had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.58 billion. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The company's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. On average, sell-side analysts expect that Altria Group, Inc. will post 5.7 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, June 15th. Altria Group's dividend payout ratio is currently 88.70%.

Analyst Ratings Changes

A number of analysts have commented on MO shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $77.00 price objective on shares of Altria Group in a report on Thursday, April 30th. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Barclays increased their price target on Altria Group from $63.00 to $64.00 and gave the company an "underweight" rating in a report on Friday, May 15th. Jefferies Financial Group upped their target price on Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a report on Wednesday, May 27th. Finally, Morgan Stanley set a $71.00 price target on Altria Group in a report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Altria Group presently has an average rating of "Hold" and a consensus price target of $70.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.