Resona Asset Management Co. Ltd. Sells 42,109 Shares of Altria Group, Inc. $MO

Resona Asset Management Co. Ltd. decreased its stake in shares of Altria Group, Inc. (NYSE:MO) by 8.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 478,439 shares of the company’s stock after selling 42,109 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Altria Group were worth $34,632,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MO. Oregon Public Employees Retirement Fund grew its holdings in Altria Group by 6.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 205,333 shares of the company’s stock valued at $14,774,000 after buying an additional 13,128 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Altria Group by 12.3% in the second quarter. Kovack Advisors Inc. now owns 37,863 shares of the company’s stock worth $2,714,000 after buying an additional 4,135 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Altria Group by 5.4% in the second quarter. Axxcess Wealth Management LLC now owns 31,448 shares of the company’s stock valued at $2,263,000 after acquiring an additional 1,615 shares during the period. Duncker Streett & Co. Inc. boosted its position in shares of Altria Group by 2.9% in the second quarter. Duncker Streett & Co. Inc. now owns 9,007 shares of the company’s stock valued at $648,000 after acquiring an additional 255 shares during the period. Finally, North Star Investment Management Corp. grew its stake in Altria Group by 2.4% during the second quarter. North Star Investment Management Corp. now owns 15,363 shares of the company’s stock valued at $1,105,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley set a $71.00 target price on shares of Altria Group in a research note on Friday, May 1st. Barclays decreased their price target on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a report on Tuesday. Citigroup increased their price objective on Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and set a $77.00 price objective on shares of Altria Group in a research note on Thursday, April 30th. Finally, Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.11.

Insiders Place Their Bets

In other Altria Group news, Director Ellen R. Strahlman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total transaction of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares in the company, valued at $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the transaction, the director directly owned 73,809 shares in the company, valued at $5,332,700.25. This trade represents a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by company insiders.

Altria Group Price Performance

Shares of Altria Group stock opened at $65.72 on Friday. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06. The firm has a market cap of $109.74 billion, a PE ratio of 13.86, a PEG ratio of 2.31 and a beta of 0.46. The company has a 50 day simple moving average of $70.83 and a two-hundred day simple moving average of $68.69.

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

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.