CMG Global Holdings LLC Boosts Stock Holdings in Altria Group, Inc. (NYSE:MO)

CMG Global Holdings LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,147 shares of the company’s stock after buying an additional 716 shares during the quarter. Altria Group makes up about 1.0% of CMG Global Holdings LLC’s holdings, making the stock its 28th largest position. CMG Global Holdings LLC’s holdings in Altria Group were worth $1,794,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its stake in Altria Group by 729.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock valued at $100,511,000 after buying an additional 1,731,932 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Altria Group by 3,786.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,743,443 shares of the company’s stock valued at $88,985,000 after purchasing an additional 1,698,585 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Altria Group by 25.0% during the 2nd quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock valued at $295,055,000 after purchasing an additional 1,299,703 shares during the period. Cetera Investment Advisers lifted its holdings in Altria Group by 415.4% during the 1st quarter. Cetera Investment Advisers now owns 984,285 shares of the company’s stock worth $42,935,000 after purchasing an additional 793,327 shares in the last quarter. Finally, National Pension Service lifted its holdings in Altria Group by 19.9% during the 3rd quarter. National Pension Service now owns 4,034,414 shares of the company’s stock worth $205,916,000 after purchasing an additional 670,858 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MO has been the topic of several analyst reports. Stifel Nicolaus upped their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Citigroup raised their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Altria Group has an average rating of “Hold” and a consensus target price of $51.33.

Altria Group Price Performance

Shares of NYSE:MO opened at $56.74 on Friday. Altria Group, Inc. has a one year low of $39.25 and a one year high of $56.84. The company’s fifty day moving average price is $51.87 and its 200-day moving average price is $49.65. The firm has a market capitalization of $96.16 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 3.19 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, equities research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current 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.