Wedge Capital Management L L P NC Has $30.09 Million Stake in Altria Group, Inc. $MO

Wedge Capital Management L L P NC reduced its holdings in Altria Group, Inc. (NYSE:MO) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 418,199 shares of the company’s stock after selling 36,857 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Altria Group were worth $30,089,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Darwin Wealth Management LLC acquired a new position in shares of Altria Group in the second quarter valued at approximately $27,000. Navalign LLC acquired a new position in shares of Altria Group in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC bought a new position in shares of Altria Group during the fourth quarter worth approximately $29,000. Hughes Financial Services LLC raised its position in shares of Altria Group by 62.9% in the fourth quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 197 shares in the last quarter. Finally, Miller Capital Partners Inc. acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $29,000. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MO. Citigroup increased their price target on Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. UBS Group boosted their price target on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Stifel Nicolaus increased their price objective on shares of Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $77.00 target price on shares of Altria Group in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.11.

Altria Group Trading Down 0.8%

Shares of NYSE MO opened at $65.05 on Wednesday. The company has a market cap of $108.61 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 2.32 and a beta of 0.46. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $77.06. The stock has a 50-day moving average price of $71.19 and a two-hundred day moving average price of $68.67.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The company 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%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, sell-side analysts predict that Altria Group, Inc. will post 5.68 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were given a dividend of $1.06 per share. The ex-dividend date was Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group’s payout ratio is currently 89.45%.

Insider Transactions at Altria Group

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the transaction, the director directly owned 73,809 shares in the company, valued at approximately $5,332,700.25. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen R. Strahlman sold 2,000 shares of the business’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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by corporate insiders.

About Altria Group

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.