Kingsview Wealth Management LLC Trims Stake in Altria Group, Inc. (NYSE:MO)

Kingsview Wealth Management LLC cut its stake in Altria Group, Inc. (NYSE:MO) by 47.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,919 shares of the company’s stock after selling 121,218 shares during the period. Kingsview Wealth Management LLC’s holdings in Altria Group were worth $6,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new stake in Altria Group in the second quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in Altria Group in the second quarter worth $30,000. Valley Wealth Managers Inc. lifted its stake in Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Altria Group in the third quarter worth $41,000. Finally, Fairman Group LLC lifted its stake in Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after purchasing an additional 410 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MO. Stifel Nicolaus upped their price objective 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. Barclays upped their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup upped their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and an average price target of $51.33.

Altria Group Price Performance

MO stock opened at $56.73 on Friday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $56.84. The company has a market cap of $96.15 billion, a P/E ratio of 9.58, a PEG ratio of 3.19 and a beta of 0.64. The firm has a 50-day moving average of $51.87 and a 200 day moving average of $49.69.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. Altria Group’s revenue was up 18.6% on a year-over-year basis. On average, equities research analysts expect 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.