Harvest Fund Management Co. Ltd Grows Stock Position in Altria Group, Inc. (NYSE:MO)

Harvest Fund Management Co. Ltd increased its holdings in Altria Group, Inc. (NYSE:MO) by 1,035.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,578 shares of the company’s stock after buying an additional 2,351 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Altria Group were worth $132,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC raised its position in shares of Altria Group by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after acquiring an additional 191 shares during the period. Delta Investment Management LLC increased its stake in shares of Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares in the last quarter. Scarborough Advisors LLC raised its holdings in Altria Group by 18.5% in the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares during the period. American Institute for Advanced Investment Management LLP boosted its position in Altria Group by 3.5% during the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC grew its holdings in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Price Performance

MO opened at $57.65 on Thursday. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The firm has a market capitalization of $97.71 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 3.23 and a beta of 0.64. The company’s 50 day simple moving average is $52.25 and its two-hundred day simple moving average is $49.96.

Altria Group (NYSE:MO) last issued its earnings results 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 analysts’ expectations 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 period in the prior year, the business earned $1.28 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Barclays increased their price objective 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. UBS Group boosted their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus raised their price target on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America cut their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.33.

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.