EFG Asset Management Americas Corp. Has $2.52 Million Stock Holdings in Altria Group, Inc. $MO

EFG Asset Management Americas Corp. lessened its position in Altria Group, Inc. (NYSE:MO) by 12.1% in the second quarter, HoldingsChannel reports. The fund owned 42,919 shares of the company’s stock after selling 5,906 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Altria Group were worth $2,516,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GQG Partners LLC increased its stake in Altria Group by 8,146.4% during the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock valued at $1,122,290,000 after purchasing an additional 18,471,846 shares in the last quarter. Nuveen LLC bought a new position in shares of Altria Group in the first quarter valued at $219,141,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Altria Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock valued at $3,798,592,000 after buying an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Altria Group by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock worth $717,913,000 after acquiring an additional 3,415,237 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Altria Group by 111.3% in the 1st quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock worth $333,606,000 after acquiring an additional 2,928,006 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Price Performance

NYSE MO opened at $58.60 on Thursday. The business’s fifty day moving average is $62.83 and its 200-day moving average is $61.83. The stock has a market capitalization of $98.37 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 3.45 and a beta of 0.51. Altria Group, Inc. has a one year low of $50.08 and a one year high of $68.60.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 earnings per share. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. Research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group declared that its board has approved a stock repurchase plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MO. UBS Group cut their price target on Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Stifel Nicolaus set a $72.00 price target on Altria Group in a report on Thursday, August 21st. Barclays raised their price target on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of Altria Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $62.33.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.