Cedar Brook Financial Partners LLC bought a new stake in Altria Group Inc (NYSE:MO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,187 shares of the company’s stock, valued at approximately $209,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of MO. NuWave Investment Management LLC raised its stake in shares of Altria Group by 296.4% in the third quarter. NuWave Investment Management LLC now owns 3,865 shares of the company’s stock valued at $161,000 after purchasing an additional 2,890 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Altria Group during the third quarter worth $17,512,000. Campbell & CO Investment Adviser LLC acquired a new position in Altria Group during the third quarter worth $256,000. Strategic Blueprint LLC acquired a new position in Altria Group during the third quarter worth $54,000. Finally, Cypress Wealth Services LLC raised its stake in Altria Group by 0.3% during the third quarter. Cypress Wealth Services LLC now owns 77,700 shares of the company’s stock worth $3,178,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.
Several research analysts have issued reports on MO shares. Morgan Stanley increased their price objective on Altria Group from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Royal Bank of Canada reiterated a “buy” rating and set a $68.00 price objective on shares of Altria Group in a research note on Thursday, January 30th. Deutsche Bank dropped their price objective on Altria Group from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Piper Sandler upgraded Altria Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $57.00 in a research note on Thursday, January 30th. Finally, Citigroup upgraded Altria Group from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Altria Group currently has a consensus rating of “Buy” and an average price target of $55.19.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 30th. The company reported $1.02 EPS for the quarter, hitting the consensus estimate of $1.02. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Altria Group had a positive return on equity of 67.74% and a negative net margin of 5.15%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, analysts forecast that Altria Group Inc will post 4.41 earnings per share for the current fiscal year.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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