Benjamin Edwards Inc. Has $2.59 Million Holdings in Altria Group, Inc. (NYSE:MO)

Benjamin Edwards Inc. raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 2,103.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,766 shares of the company’s stock after purchasing an additional 48,462 shares during the quarter. Benjamin Edwards Inc.’s holdings in Altria Group were worth $2,591,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MO. MFA Wealth Advisors LLC acquired a new stake in Altria Group during the 2nd quarter valued at $27,000. True Wealth Design LLC lifted its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Altria Group during the 2nd quarter valued at $30,000. Valley Wealth Managers Inc. lifted its holdings in Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Altria Group during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE MO opened at $56.46 on Thursday. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03. The stock has a market capitalization of $95.68 billion, a P/E ratio of 9.54, a PEG ratio of 3.25 and a beta of 0.63. The stock’s fifty day moving average is $52.89 and its 200 day moving average is $50.36.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 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 company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the business earned $1.28 earnings per share. Altria Group’s revenue was up 18.6% on a year-over-year basis. Equities research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on MO. Stifel Nicolaus raised their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Bank of America dropped their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. UBS Group lifted their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.33.

Altria Group Profile

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.