Bank of Nova Scotia Sells 2,045,617 Shares of Altria Group, Inc. $MO

Bank of Nova Scotia reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 84.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 370,525 shares of the company’s stock after selling 2,045,617 shares during the period. Bank of Nova Scotia’s holdings in Altria Group were worth $24,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MO. Dickmeyer Boyce Financial Management Inc. acquired a new stake in shares of Altria Group in the first quarter worth $312,000. Gibbs Wealth Management bought a new stake in shares of Altria Group in the first quarter valued at about $349,000. Sei Investments Co. lifted its stake in shares of Altria Group by 15.1% in the first quarter. Sei Investments Co. now owns 1,698,456 shares of the company’s stock valued at $112,084,000 after buying an additional 222,218 shares during the period. Davis R M Inc. grew its position in Altria Group by 1.5% during the first quarter. Davis R M Inc. now owns 13,706 shares of the company’s stock worth $909,000 after buying an additional 208 shares in the last quarter. Finally, State of Wyoming grew its position in Altria Group by 3.0% during the first quarter. State of Wyoming now owns 7,198 shares of the company’s stock worth $475,000 after buying an additional 207 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Trading Up 1.2%

Shares of MO opened at $72.96 on Friday. The stock has a market cap of $121.84 billion, a PE ratio of 15.26, a PEG ratio of 2.64 and a beta of 0.45. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $75.28. The stock has a 50 day simple moving average of $71.91 and a 200-day simple moving average of $67.75.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. Altria Group’s quarterly revenue was up 5.3% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.7 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were given a dividend of $1.06 per share. The ex-dividend date was Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.8%. Altria Group’s dividend payout ratio (DPR) is 88.70%.

Analyst Ratings Changes

Several equities analysts have commented on MO shares. Jefferies Financial Group upped their price target on Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Citigroup boosted their price objective on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. Barclays lifted their price target on shares of Altria Group from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th. Finally, Bank of America boosted their price target on shares of Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a report on Friday, April 10th. Five equities research 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $70.78.

Altria Group News Roundup

Here are the key news stories impacting Altria Group this week:

• Positive Sentiment: Altria is approaching earnings with expectations for higher revenue and year-over-year EPS growth, which supports the case for continued fundamental strength. Altria Group (MO) Nears Earnings, Is The Recent Rally Already Priced In?
• Positive Sentiment: The stock has outperformed over the past year, helped by a strong year-to-date gain and solid total shareholder return, reinforcing momentum around the name. Altria Group (MO) Nears Earnings, Is The Recent Rally Already Priced In?
• Neutral Sentiment: Multiple pre-earnings previews say investors should not assume a blowout report, noting Altria does not appear to have the strongest setup for an earnings beat. Altria (MO) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Shares are being compared with consumer staples peers, with coverage suggesting the stock’s relative performance is a key focus rather than a major new catalyst. Is Altria Group (MO) Stock Outpacing Its Consumer Staples Peers This Year?
• Negative Sentiment: One analyst report downgraded Altria, arguing that the stock’s strong outperformance has made it look expensive, which could pressure valuation sentiment. Altria: Outperformance Makes It Pricey (Rating Downgrade)

Insider Transactions at Altria Group

In related 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 transaction, the director owned 25,102 shares in the company, valued at $1,821,401.12. This represents a 7.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the transaction, the director owned 73,809 shares in the company, valued at $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.10% of the company’s stock.

Altria Group 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.