L2 Asset Management LLC Takes Position in Altria Group, Inc. $MO

L2 Asset Management LLC bought a new stake in shares of Altria Group, Inc. (NYSE:MO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 8,456 shares of the company’s stock, valued at approximately $609,000.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Altria Group by 1.1% in the second quarter. BlackRock Inc. now owns 126,073,166 shares of the company’s stock worth $9,070,964,000 after purchasing an additional 1,325,175 shares during the period. State Street Corp raised its holdings in shares of Altria Group by 1.6% during the fourth quarter. State Street Corp now owns 72,830,531 shares of the company’s stock valued at $4,275,886,000 after purchasing an additional 1,147,141 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Altria Group by 10.6% during 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 purchasing an additional 6,265,780 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Altria Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 45,984,718 shares of the company’s stock worth $2,651,383,000 after purchasing an additional 729,999 shares in the last quarter. Finally, GQG Partners LLC acquired a new stake in shares of Altria Group in the 2nd quarter valued at about $1,806,782,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MO. Barclays decreased their target price on Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft increased their price target on Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. Morgan Stanley set a $71.00 price objective on Altria Group in a report on Friday, May 1st. Finally, BTIG Research began coverage on Altria Group in a research report on Tuesday, July 21st. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.11.

Altria Group Price Performance

Shares of NYSE MO opened at $68.08 on Wednesday. The company has a 50-day moving average price of $70.14 and a 200-day moving average price of $68.91. The stock has a market capitalization of $113.68 billion, a P/E ratio of 14.36, a P/E/G ratio of 2.43 and a beta of 0.46. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06.

Altria Group (NYSE:MO) last posted its 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). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal 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.