Frisch Financial Group Inc. Reduces Stake in Altria Group, Inc. (NYSE:MO)

Frisch Financial Group Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,553 shares of the company’s stock after selling 462 shares during the period. Frisch Financial Group Inc.’s holdings in Altria Group were worth $237,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its stake in shares of Altria Group by 18.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,231 shares of the company’s stock valued at $1,741,000 after purchasing an additional 6,068 shares in the last quarter. Wedmont Private Capital lifted its holdings in Altria Group by 28.4% in the second quarter. Wedmont Private Capital now owns 10,987 shares of the company’s stock worth $524,000 after buying an additional 2,432 shares during the period. Maia Wealth LLC bought a new stake in Altria Group during the 2nd quarter valued at approximately $277,000. V Square Quantitative Management LLC grew its holdings in shares of Altria Group by 179.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 12,213 shares of the company’s stock worth $556,000 after acquiring an additional 7,850 shares during the period. Finally, ORG Partners LLC raised its position in shares of Altria Group by 434.5% in the 2nd quarter. ORG Partners LLC now owns 43,086 shares of the company’s stock worth $1,984,000 after acquiring an additional 35,025 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

MO opened at $55.86 on Tuesday. The firm has a market cap of $94.67 billion, a PE ratio of 9.44, a P/E/G ratio of 3.26 and a beta of 0.63. The stock has a 50-day moving average price of $53.23 and a 200-day moving average price of $50.61. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $65.00 in a report on Friday. Barclays upped their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. 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. Finally, Citigroup upped their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.33.

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.