Gradient Investments LLC Acquires 2,349 Shares of Altria Group, Inc. (NYSE:MO)

Gradient Investments LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 134.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,100 shares of the company’s stock after acquiring an additional 2,349 shares during the period. Gradient Investments LLC’s holdings in Altria Group were worth $187,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Patten & Patten Inc. TN grew its position in Altria Group by 1.6% during the 1st quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock worth $623,000 after acquiring an additional 224 shares during the last quarter. Hilltop National Bank lifted its stake in Altria Group by 1.6% in the second quarter. Hilltop National Bank now owns 14,667 shares of the company’s stock valued at $668,000 after purchasing an additional 226 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Altria Group by 12.1% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,150 shares of the company’s stock valued at $95,000 after purchasing an additional 232 shares during the last quarter. Janiczek Wealth Management LLC lifted its position in shares of Altria Group by 7.0% during the first quarter. Janiczek Wealth Management LLC now owns 3,767 shares of the company’s stock worth $168,000 after acquiring an additional 247 shares in the last quarter. Finally, Triumph Capital Management lifted its position in shares of Altria Group by 1.6% during the first quarter. Triumph Capital Management now owns 15,696 shares of the company’s stock worth $678,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO traded up $0.58 during midday trading on Friday, reaching $51.32. The company had a trading volume of 7,722,716 shares, compared to its average volume of 10,574,669. Altria Group, Inc. has a one year low of $39.06 and a one year high of $51.40. The stock’s fifty day moving average price is $47.94 and its 200-day moving average price is $44.67. The stock has a market capitalization of $88.15 billion, a P/E ratio of 10.74, a PEG ratio of 3.07 and a beta of 0.66.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company earned $1.31 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus raised their price objective on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Bank of America upped their target price on shares of Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Barclays raised their price target on shares of Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday. 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 stock has an average rating of “Hold” and a consensus target price of $47.08.

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.