Bank of Nova Scotia Has $24.45 Million Holdings in Altria Group, Inc. $MO

Bank of Nova Scotia reduced its stake in Altria Group, Inc. (NYSE:MO) by 84.7% during the 1st quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Altria Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock worth $9,282,143,000 after buying an additional 1,903,530 shares in the last quarter. State Street Corp lifted its holdings in shares of Altria Group by 1.6% during the 4th quarter. State Street Corp now owns 72,830,531 shares of the company’s stock worth $4,275,886,000 after acquiring 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 acquiring an additional 6,265,780 shares in the last quarter. Geode Capital Management LLC increased its stake in Altria Group by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 45,984,718 shares of the company’s stock valued at $2,651,383,000 after acquiring an additional 729,999 shares during the last quarter. Finally, Morgan Stanley increased its stake in Altria Group by 1.5% in the fourth quarter. Morgan Stanley now owns 22,306,173 shares of the company’s stock valued at $1,286,174,000 after acquiring an additional 335,089 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.2%

Altria Group stock opened at $72.96 on Friday. The company has a market capitalization of $121.84 billion, a PE ratio of 15.26, a PEG ratio of 2.64 and a beta of 0.45. The firm’s fifty day moving average is $71.91 and its 200 day moving average is $67.75. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $75.28.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. Altria Group had a net margin of 34.34% and a negative return on equity of 298.69%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 earnings per share. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. Sell-side analysts expect 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 issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, June 15th. Altria Group’s dividend payout ratio (DPR) is currently 88.70%.

Wall Street Analysts Forecast Growth

MO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Barclays raised their price target on shares of Altria Group from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. BTIG Research began coverage on Altria Group in a research note on Tuesday. They set a “neutral” rating on the stock. Jefferies Financial Group increased their price objective on Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $77.00 target price on shares of Altria Group in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.78.

Trending Headlines about Altria Group

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 Buying and Selling at Altria Group

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the sale, the director owned 73,809 shares in the company, valued at $5,332,700.25. This represents a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ellen R. Strahlman sold 2,000 shares of Altria Group 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 transaction, the director owned 25,102 shares of the company’s stock, valued at $1,821,401.12. This trade represents a 7.38% decrease in their position. 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.