Glenmede Trust Co. NA Has $8.84 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Glenmede Trust Co. NA lessened its position in shares of Altria Group, Inc. (NYSE:MO) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,179 shares of the company’s stock after selling 5,000 shares during the quarter. Glenmede Trust Co. NA’s holdings in Altria Group were worth $8,839,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MO. Bridgewater Associates LP raised its holdings in Altria Group by 29.8% during the 3rd quarter. Bridgewater Associates LP now owns 1,438,565 shares of the company’s stock worth $73,424,000 after purchasing an additional 330,105 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Altria Group by 20.6% during the 3rd quarter. Townsquare Capital LLC now owns 74,589 shares of the company’s stock worth $3,807,000 after buying an additional 12,727 shares during the period. Shum Financial Group Inc. bought a new stake in shares of Altria Group during the third quarter worth approximately $340,000. Avestar Capital LLC lifted its holdings in Altria Group by 7.8% in the third quarter. Avestar Capital LLC now owns 9,623 shares of the company’s stock valued at $491,000 after buying an additional 698 shares during the period. Finally, Brooklyn Investment Group bought a new position in Altria Group in the third quarter valued at approximately $250,000. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MO shares. Stifel Nicolaus upped their target price 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. Citigroup upped their price objective on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Bank of America cut their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Barclays lifted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.33.

Altria Group Price Performance

Shares of Altria Group stock opened at $57.74 on Friday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03. The company has a market capitalization of $97.86 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 3.28 and a beta of 0.64. The business has a 50-day moving average of $52.55 and a two-hundred day moving average of $50.10.

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

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.