Altria Group, Inc. (NYSE:MO) Stock Holdings Lessened by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its stake in Altria Group, Inc. (NYSE:MO) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,838 shares of the company’s stock after selling 1,002 shares during the quarter. Moors & Cabot Inc.’s holdings in Altria Group were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new position in Altria Group in the third quarter worth approximately $116,000. Strategy Asset Managers LLC bought a new position in Altria Group during the third quarter valued at approximately $2,802,000. Segall Bryant & Hamill LLC bought a new position in Altria Group during the third quarter valued at approximately $2,183,000. Prospera Private Wealth LLC bought a new position in Altria Group during the third quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC raised its position in Altria Group by 34.9% during the third quarter. Avior Wealth Management LLC now owns 14,506 shares of the company’s stock valued at $740,000 after acquiring an additional 3,754 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Up 0.2 %

Shares of MO stock opened at $55.98 on Thursday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $56.55. The firm’s fifty day simple moving average is $51.72 and its 200 day simple moving average is $49.51. The firm has a market capitalization of $94.87 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. The business’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on MO. Citigroup raised their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Bank of America dropped their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their price target on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.33.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.