Elevation Point Wealth Partners LLC Purchases New Position in Altria Group, Inc. $MO

Elevation Point Wealth Partners LLC purchased a new position in Altria Group, Inc. (NYSE:MO) in the 2nd quarter, HoldingsChannel reports. The firm purchased 46,709 shares of the company’s stock, valued at approximately $3,405,000.

Several other large investors also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its stake in shares of Altria Group by 5.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock valued at $191,000 after purchasing an additional 143 shares during the last quarter. Angeles Wealth Management LLC increased its position in shares of Altria Group by 1.3% during the 2nd quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company’s stock valued at $821,000 after purchasing an additional 146 shares during the last quarter. Bernardo Wealth Planning LLC increased its position in shares of Altria Group by 4.6% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company’s stock valued at $243,000 after purchasing an additional 149 shares during the last quarter. Old Peak Finance LLC raised its holdings in Altria Group by 1.3% during the 2nd quarter. Old Peak Finance LLC now owns 11,920 shares of the company’s stock valued at $858,000 after buying an additional 151 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in Altria Group by 0.7% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 23,324 shares of the company’s stock valued at $1,678,000 after buying an additional 152 shares during the period. 57.41% of the stock is owned by institutional investors.

Altria Group Trading Up 3.6%

NYSE MO opened at $68.46 on Tuesday. The company’s 50-day moving average price is $70.18 and its 200-day moving average price is $68.89. The stock has a market cap of $114.32 billion, a PE ratio of 14.44, a PEG ratio of 2.34 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.

Altria Group (NYSE:MO) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MO. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $77.00 target price on shares of Altria Group in a research note on Thursday, April 30th. Morgan Stanley set a $71.00 target price on shares of Altria Group in a report on Friday, May 1st. Finally, UBS Group lifted their price target on shares of Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $70.11.

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.