6,281 Shares in Altria Group, Inc. (NYSE:MO) Acquired by Shum Financial Group Inc.

Shum Financial Group Inc. acquired a new stake in Altria Group, Inc. (NYSE:MO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,281 shares of the company’s stock, valued at approximately $340,000.

A number of other institutional investors have also modified their holdings of MO. Charles Schwab Investment Management Inc. lifted its holdings in Altria Group by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company’s stock worth $2,935,224,000 after buying an additional 589,832 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Altria Group by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 12,355,509 shares of the company’s stock valued at $562,793,000 after purchasing an additional 191,236 shares during the last quarter. AQR Capital Management LLC increased its position in Altria Group by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock valued at $295,055,000 after acquiring an additional 1,299,703 shares during the period. Victory Capital Management Inc. increased its position in Altria Group by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,060,589 shares of the company’s stock valued at $230,510,000 after acquiring an additional 243,201 shares during the period. Finally, LSV Asset Management increased its position in Altria Group by 4.6% in the 2nd quarter. LSV Asset Management now owns 4,888,137 shares of the company’s stock valued at $222,655,000 after acquiring an additional 215,594 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MO has been the topic of several recent research reports. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays boosted their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Bank of America cut their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Citigroup boosted their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, UBS Group boosted their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $51.33.

Altria Group Stock Up 0.5 %

Shares of NYSE:MO traded up $0.31 during midday trading on Tuesday, reaching $57.06. The company’s stock had a trading volume of 643,068 shares, compared to its average volume of 9,687,264. The firm has a market cap of $96.71 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 3.23 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $57.25. The business has a 50 day moving average price of $51.97 and a 200 day moving average price of $49.81.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.33 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Sell-side analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Company 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.