State of Michigan Retirement System Decreases Stake in Altria Group, Inc. $MO

State of Michigan Retirement System reduced its holdings in shares of Altria Group, Inc. (NYSE:MO) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 427,542 shares of the company’s stock after selling 11,000 shares during the quarter. State of Michigan Retirement System’s holdings in Altria Group were worth $30,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Altria Group by 10.6% in the 4th 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 during the last quarter. Assenagon Asset Management S.A. lifted its stake in Altria Group by 3,691.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,606,561 shares of the company’s stock valued at $259,492,000 after acquiring an additional 3,511,430 shares during the period. Marshall Wace LLP boosted its holdings in shares of Altria Group by 286.7% during the 3rd quarter. Marshall Wace LLP now owns 4,479,699 shares of the company’s stock valued at $295,929,000 after acquiring an additional 3,321,262 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Altria Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock valued at $9,282,143,000 after acquiring an additional 1,903,530 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of Altria Group by 301.4% during the 4th quarter. Bank of Nova Scotia now owns 2,416,142 shares of the company’s stock valued at $139,315,000 after acquiring an additional 1,814,224 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of NYSE:MO opened at $65.72 on Monday. The stock’s 50-day simple moving average is $70.83 and its two-hundred day simple moving average is $68.73. The stock has a market capitalization of $109.74 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.33 and a beta of 0.46. Altria Group, Inc. has a 52-week low of $54.70 and a 52-week high of $77.06.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the company earned $1.44 EPS. Altria Group’s revenue for the quarter was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, equities analysts forecast that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MO has been the subject of several research reports. Morgan Stanley set a $71.00 price objective on shares of Altria Group in a report on Friday, May 1st. Stifel Nicolaus raised their target price on shares of Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, May 1st. BTIG Research assumed coverage on shares of Altria Group in a research report on Tuesday, July 21st. They issued a “neutral” rating for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $77.00 target price on shares of Altria Group in a research note on Thursday, April 30th. Finally, UBS Group boosted their target price on shares of Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Five 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. According to data from MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $70.11.

Insider Activity at Altria Group

In other Altria Group 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 completion of the sale, the director directly owned 73,809 shares of the company’s stock, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total transaction of $145,120.00. Following the sale, the director directly owned 25,102 shares of the company’s stock, valued at approximately $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Altria Group Company 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.