Truvestments Capital LLC Takes $224,000 Position in Altria Group, Inc. (NYSE:MO)

Truvestments Capital LLC acquired a new stake in Altria Group, Inc. (NYSE:MO) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,391 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Waverly Advisors LLC boosted its holdings in Altria Group by 97.5% in the 1st quarter. Waverly Advisors LLC now owns 35,443 shares of the company’s stock worth $1,546,000 after buying an additional 17,499 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Altria Group by 10.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 195,097 shares of the company’s stock valued at $8,510,000 after purchasing an additional 18,482 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Altria Group by 14.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 91,794 shares of the company’s stock valued at $3,948,000 after purchasing an additional 11,546 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in Altria Group by 38.4% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 14,429 shares of the company’s stock worth $629,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Altria Group by 57.1% in the 1st quarter. Tidal Investments LLC now owns 201,795 shares of the company’s stock worth $8,804,000 after purchasing an additional 73,310 shares during the period. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Barclays increased their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Bank of America reduced their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Altria Group has an average rating of “Hold” and an average target price of $51.33.

Altria Group Stock Performance

NYSE MO opened at $56.75 on Tuesday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $57.20. The company has a fifty day moving average of $51.97 and a 200-day moving average of $49.81. The company has a market capitalization of $96.17 billion, a P/E ratio of 9.59, a P/E/G ratio of 3.23 and a beta of 0.64.

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

Altria Group 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.