Charles Schwab Investment Management Inc. Acquires 589,832 Shares of Altria Group, Inc. (NYSE:MO)

Charles Schwab Investment Management Inc. lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,508,314 shares of the company’s stock after buying an additional 589,832 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Altria Group were worth $2,935,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MO. Covestor Ltd raised its holdings in shares of Altria Group by 33.4% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $46,000 after acquiring an additional 262 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Altria Group by 45.5% in the first quarter. Bessemer Group Inc. now owns 65,405 shares of the company’s stock valued at $2,854,000 after purchasing an additional 20,438 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Altria Group by 61.9% in the first quarter. Lake Street Advisors Group LLC now owns 9,700 shares of the company’s stock valued at $433,000 after purchasing an additional 3,707 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Altria Group during the first quarter valued at approximately $67,000. Finally, LGT Group Foundation purchased a new stake in Altria Group in the 1st quarter valued at $51,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Trading Down 0.0 %

MO stock opened at $55.97 on Thursday. The firm has a 50 day moving average of $51.72 and a 200-day moving average of $49.51. The firm has a market capitalization of $94.86 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $56.55.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $1.28 earnings per share. Sell-side analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Wall Street Analyst Weigh In

MO has been the subject of several recent analyst reports. Bank of America reduced their target price 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 lifted 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. Deutsche Bank Aktiengesellschaft increased their price target on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup boosted their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.33.

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.