Altria Group, Inc. (NYSE:MO) Stake Lifted by WealthCare Investment Partners LLC

WealthCare Investment Partners LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,045 shares of the company’s stock after acquiring an additional 332 shares during the period. WealthCare Investment Partners LLC’s holdings in Altria Group were worth $867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gradient Investments LLC boosted its holdings in Altria Group by 134.2% during the second quarter. Gradient Investments LLC now owns 4,100 shares of the company’s stock worth $187,000 after buying an additional 2,349 shares in the last quarter. Brookstone Capital Management boosted its holdings in Altria Group by 8.5% during the second quarter. Brookstone Capital Management now owns 112,040 shares of the company’s stock worth $5,534,000 after buying an additional 8,772 shares in the last quarter. Rovin Capital UT ADV boosted its holdings in Altria Group by 108.4% during the second quarter. Rovin Capital UT ADV now owns 17,048 shares of the company’s stock worth $777,000 after buying an additional 8,868 shares in the last quarter. Blue Trust Inc. boosted its holdings in Altria Group by 39.3% during the second quarter. Blue Trust Inc. now owns 12,558 shares of the company’s stock worth $548,000 after buying an additional 3,546 shares in the last quarter. Finally, Wheelhouse Advisory Group LLC bought a new stake in Altria Group during the second quarter worth approximately $223,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of Altria Group stock traded up $0.58 during midday trading on Friday, reaching $51.32. 7,722,716 shares of the company’s stock traded hands, compared to its average volume of 10,574,669. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $51.40. The company’s 50 day simple moving average is $47.94 and its 200 day simple moving average is $44.70. The company has a market cap of $88.15 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MO shares. 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 research note on Thursday, August 1st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Argus raised shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Bank of America raised their price objective 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. Finally, Barclays raised their price objective on shares of Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.