Raymond James Trust N.A. Sells 738 Shares of Altria Group, Inc. (NYSE:MO)

Raymond James Trust N.A. reduced its stake in Altria Group, Inc. (NYSE:MO) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,951 shares of the company’s stock after selling 738 shares during the quarter. Raymond James Trust N.A.’s holdings in Altria Group were worth $3,928,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MO. MFA Wealth Advisors LLC bought a new position in shares of Altria Group during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. boosted its position in shares of Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Altria Group during the 3rd quarter worth approximately $41,000. Finally, Fairman Group LLC boosted its position in Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after buying an additional 410 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

Altria Group stock opened at $56.74 on Friday. The stock has a market cap of $96.16 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 3.19 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $56.84. The firm’s 50-day simple moving average is $51.87 and its 200 day simple moving average is $49.65.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts predict that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MO shares. Barclays raised their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Citigroup lifted their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Bank of America decreased their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, 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 report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.33.

About Altria Group

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.