Altria Group, Inc. (NYSE:MO) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its stake in Altria Group, Inc. (NYSE:MO) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 92,761 shares of the company’s stock after acquiring an additional 1,148 shares during the quarter. iA Global Asset Management Inc.’s holdings in Altria Group were worth $4,735,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new position in Altria Group during the second quarter worth $27,000. True Wealth Design LLC lifted its stake in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Altria Group during the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. grew its position in Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Altria Group during the third quarter worth about $41,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MO. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $65.00 in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays boosted their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group increased 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. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Altria Group has a consensus rating of “Hold” and an average price target of $53.33.

Altria Group Stock Performance

MO opened at $57.32 on Friday. The business’s 50-day simple moving average is $53.14 and its 200-day simple moving average is $50.51. The company has a market cap of $97.15 billion, a P/E ratio of 9.68, a PEG ratio of 3.21 and a beta of 0.63. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share 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 company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the company earned $1.28 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal 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.