Wedge Capital Management L L P NC Sells 36,857 Shares of Altria Group, Inc. $MO

Wedge Capital Management L L P NC lowered its holdings in shares of Altria Group, Inc. (NYSE:MO) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 418,199 shares of the company’s stock after selling 36,857 shares during the period. Wedge Capital Management L L P NC’s holdings in Altria Group were worth $30,089,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its stake in Altria Group by 7.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company’s stock valued at $38,531,000 after acquiring an additional 44,267 shares during the period. Procyon Advisors LLC increased its holdings in shares of Altria Group by 59.3% during the first quarter. Procyon Advisors LLC now owns 38,926 shares of the company’s stock valued at $2,569,000 after acquiring an additional 14,490 shares in the last quarter. Rayburn West Financial Services LLC acquired a new position in shares of Altria Group during the fourth quarter worth approximately $2,438,000. North Dakota State Investment Board bought a new position in shares of Altria Group in the 4th quarter worth $3,336,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Altria Group by 206.7% in the 4th quarter. International Assets Investment Management LLC now owns 75,573 shares of the company’s stock worth $4,358,000 after purchasing an additional 50,931 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Down 0.8%

Altria Group stock opened at $65.05 on Wednesday. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $77.06. The company’s 50 day moving average price is $71.19 and its two-hundred day moving average price is $68.67. The stock has a market cap of $108.61 billion, a P/E ratio of 13.72, a P/E/G ratio of 2.32 and a beta of 0.46.

Altria Group (NYSE:MO) last released its earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The business had revenue of $5.36 billion during 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 business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.44 earnings per share. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.68 EPS for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group’s dividend payout ratio is 89.45%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on MO. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. BTIG Research began coverage on shares of Altria Group in a research report on Tuesday, July 21st. They issued a “neutral” rating on the stock. Barclays cut their price target on Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.