Kingsview Wealth Management LLC Cuts Position in Altria Group, Inc. (NYSE:MO)

Kingsview Wealth Management LLC lessened its holdings in Altria Group, Inc. (NYSE:MO) by 47.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,919 shares of the company’s stock after selling 121,218 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Altria Group were worth $6,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cerity Partners LLC grew its holdings in Altria Group by 14.6% in the third quarter. Cerity Partners LLC now owns 422,112 shares of the company’s stock worth $21,553,000 after purchasing an additional 53,832 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of Altria Group by 2.8% during the third quarter. Great Valley Advisor Group Inc. now owns 151,772 shares of the company’s stock valued at $7,747,000 after buying an additional 4,179 shares during the last quarter. Certified Advisory Corp grew its holdings in shares of Altria Group by 2.8% during the third quarter. Certified Advisory Corp now owns 24,645 shares of the company’s stock valued at $1,258,000 after buying an additional 666 shares during the last quarter. Leelyn Smith LLC grew its holdings in shares of Altria Group by 1.9% during the third quarter. Leelyn Smith LLC now owns 52,111 shares of the company’s stock valued at $2,660,000 after buying an additional 972 shares during the last quarter. Finally, Nwam LLC grew its holdings in shares of Altria Group by 16.8% during the third quarter. Nwam LLC now owns 13,355 shares of the company’s stock valued at $682,000 after buying an additional 1,925 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MO shares. UBS Group increased their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays increased their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Bank of America cut their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.33.

Altria Group Trading Up 1.2 %

Shares of MO stock opened at $56.73 on Friday. The stock has a market capitalization of $96.15 billion, a P/E ratio of 9.58, a P/E/G ratio of 3.19 and a beta of 0.64. The firm’s 50 day moving average is $51.87 and its 200 day moving average is $49.69. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $56.84.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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 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 last year, the company posted $1.28 EPS. The business’s revenue was up 18.6% on a year-over-year basis. As a group, equities analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current year.

About Altria Group

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.