ALTRIA GROUP, INC.: insider trades · United States · SEC (Form 4)

About ALTRIA GROUP, INC.

Altria Group, Inc. is a U.S.-listed company traded on the NYSE under the ticker MO, with headquarters in Richmond, Virginia, United States. For French-speaking investors, it is best understood as a defensive tobacco and nicotine platform with a predominantly domestic U.S. revenue base. Altria emphasizes a heritage stretching back more than 200 years, while the modern corporate structure evolved through major portfolio restructurings: the company renamed itself Altria Group in 2003 and later completed the spin-off of Philip Morris International in 2008. That history matters, because it explains why Altria today is a highly focused U.S. consumer-staples and nicotine group rather than a diversified global conglomerate. The business model is built around several complementary operating lines. In combustibles, Altria owns Philip Morris USA, the maker of Marlboro cigarettes, and John Middleton, the manufacturer of Black & Mild cigars. In smoke-free and reduced-risk categories, it owns U.S. Smokeless Tobacco Company, which includes Copenhagen and Skoal, and Helix Innovations, which markets on! oral nicotine pouches. Altria also owns NJOY, its e-vapor platform, although that business has faced significant regulatory and legal constraints in the United States. In addition, the company has exposure to heated tobacco through a majority-owned joint venture with JT Group, Horizon Innovations. This portfolio shows Altria’s effort to preserve cash generation from combustible brands while building optionality in smoke-free formats. Competitively, Altria remains one of the strongest players in the U.S. tobacco industry. Its main advantages are scale, distribution reach, brand equity, pricing power and long-standing retail relationships. Marlboro remains the flagship brand and a benchmark name in the U.S. cigarette market, while Copenhagen, Skoal and Black & Mild give the company meaningful positions across smokeless tobacco and cigars. Altria has also been actively repositioning itself around “moving beyond smoking,” with a stronger focus on oral nicotine, product innovation and adjacent categories. That said, the company continues to operate in a structurally challenged industry, where cigarette volumes trend downward and regulation remains a central strategic variable. Geographically, Altria is overwhelmingly focused on the United States, with most operations, manufacturing and commercial activity tied to the domestic market. Recent developments reinforce that domestic focus but also show selective international ambition. In its January 29, 2026 full-year 2025 results, Altria reported adjusted diluted EPS of $5.42 and guided 2026 adjusted EPS to a range of $5.56 to $5.72, while continuing substantial shareholder returns through dividends and buybacks. In September 2025, Altria announced a non-binding memorandum of understanding with KT&G to pursue long-term adjacent growth in modern oral nicotine, non-nicotine products and operating efficiency. These moves suggest a company that is still anchored in U.S. tobacco leadership, but increasingly trying to broaden its growth engine beyond combustible cigarettes.