Altria Group raises earnings outlook as institutional investors shift holdings

Altria Group has raised its 2026 adjusted earnings guidance to a range of $5.61-$5.72 per share, despite missing second-quarter revenue estimates. The company attributed this outlook to pricing power, margin expansion, and share buybacks, noting that smokeable price realization rose 4.5% in the second quarter.

In institutional trading news, the S&G Foundation established a new position in Bank of New York Mellon Corporation, purchasing 251,000 shares valued at approximately $36.3 million during the second quarter. Other firms, including Revolve Wealth Partners LLC and Jump Financial LLC, also reported new stakes in the bank.

Arista Wealth Management LLC reduced its position in Apple Inc. by 2.5% in the second quarter, leaving the fund with 71,540 shares valued at approximately $20.7 million. Conversely, Norges Bank reported a new position in Apple during the fourth quarter valued at over $52.2 billion.