Martingale Asset Management L P Lowers Holdings in Altria Group, Inc. (NYSE:MO)

Martingale Asset Management L P trimmed its holdings in Altria Group, Inc. (NYSE:MO) by 14.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 629,484 shares of the company’s stock after selling 106,401 shares during the period. Martingale Asset Management L P’s holdings in Altria Group were worth $32,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in MO. Public Sector Pension Investment Board lifted its position in shares of Altria Group by 10.3% in the third quarter. Public Sector Pension Investment Board now owns 72,830 shares of the company’s stock worth $3,717,000 after buying an additional 6,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Altria Group by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 635,775 shares of the company’s stock worth $32,450,000 after buying an additional 45,407 shares in the last quarter. CreativeOne Wealth LLC lifted its position in shares of Altria Group by 43.9% in the third quarter. CreativeOne Wealth LLC now owns 121,840 shares of the company’s stock worth $6,219,000 after buying an additional 37,180 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of Altria Group by 29.8% in the third quarter. Bridgewater Associates LP now owns 1,438,565 shares of the company’s stock worth $73,424,000 after buying an additional 330,105 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of Altria Group by 20.6% in the third 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 in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MO shares. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. 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. Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their price objective 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 research 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’s stock. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $51.33.

Altria Group Trading Up 0.1 %

Shares of MO opened at $57.65 on Friday. The firm has a market capitalization of $97.71 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.28 and a beta of 0.64. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The firm has a fifty day moving average price of $52.40 and a 200-day moving average price of $50.01.

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, beating analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $6.26 billion during 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%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. Analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current 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.