SVB Wealth LLC Purchases 16,490 Shares of Altria Group, Inc. $MO

Key Points

• SVB Wealth LLC increased its Altria stake by 24.9% in the first quarter, buying 16,490 additional shares and lifting its total holdings to 82,842 shares worth about $5.47 million.
• Altria reported better-than-expected first-quarter results, posting EPS of $1.32 versus the $1.25 estimate and revenue of $4.76 billion versus $4.58 billion expected, with revenue up 5.3% from a year ago.
• The company reaffirmed its income appeal with a quarterly dividend of $1.06 per share, equal to an annualized yield of about 6.1%, while analysts currently rate the stock a consensus Hold with a $70.44 target price.

SVB Wealth LLC raised its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 24.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,842 shares of the company's stock after purchasing an additional 16,490 shares during the quarter. SVB Wealth LLC's holdings in Altria Group were worth $5,467,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in shares of Altria Group during the 2nd quarter valued at $27,000. Navalign LLC bought a new position in Altria Group in the 4th quarter worth $28,000. Creative Capital Management Investments LLC purchased a new stake in Altria Group in the 4th quarter worth $29,000. Hughes Financial Services LLC increased its stake in Altria Group by 62.9% in the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company's stock worth $29,000 after buying an additional 197 shares in the last quarter. Finally, Miller Capital Partners Inc. bought a new stake in Altria Group during the fourth quarter valued at about $29,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Up 0.7%

MO opened at $69.60 on Tuesday. The company has a market capitalization of $116.23 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.59 and a beta of 0.46. The firm has a 50-day simple moving average of $69.76 and a two-hundred day simple moving average of $65.43. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $74.56.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $4.76 billion for 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 business's revenue was up 5.3% compared to the same quarter last year. 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. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.68 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be paid a $1.06 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.1%. Altria Group's payout ratio is presently 88.70%.

Insider Activity at Altria Group

In other news, Director Ellen R. Strahlman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the completion of the transaction, the director directly owned 25,102 shares in the company, valued at approximately $1,821,401.12. This represents a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the sale, the director owned 73,809 shares in the company, valued at $5,332,700.25. This represents a 7.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MO shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Altria Group from $60.00 to $66.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Citigroup lifted their target price on Altria Group from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Morgan Stanley set a $71.00 price target on Altria Group in a report on Friday, May 1st. UBS Group increased their price objective on shares of Altria Group from $74.00 to $76.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Bank of America lifted their price objective on shares of Altria Group from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, April 10th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.44.

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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