Larson Financial Group LLC Raises Stock Position in Altria Group, Inc. (NYSE:MO)

Larson Financial Group LLC raised its stake in Altria Group, Inc. (NYSE:MO) by 115.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,645 shares of the company’s stock after buying an additional 10,509 shares during the period. Larson Financial Group LLC’s holdings in Altria Group were worth $1,003,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC purchased a new position in Altria Group in the second quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. increased its stake in shares of Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Altria Group during the 3rd quarter worth approximately $41,000. Finally, Lynx Investment Advisory purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $44,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MO shares. Bank of America dropped their price objective on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Citigroup raised their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Stifel Nicolaus raised their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays raised 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. Finally, UBS Group lifted their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.33.

Altria Group Stock Performance

MO stock opened at $56.73 on Monday. The stock has a market capitalization of $96.15 billion, a P/E ratio of 9.58, a PEG ratio of 3.23 and a beta of 0.64. Altria Group, Inc. has a one year low of $39.25 and a one year high of $56.84. The company has a 50 day moving average price of $51.87 and a two-hundred day moving average price of $49.73.

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

Altria Group Company 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.