Pathstone Holdings LLC Has $8.29 Million Stake in Altria Group, Inc. (NYSE:MO)

Pathstone Holdings LLC cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 7.6% during the third quarter, Holdings Channel reports. The fund owned 162,061 shares of the company’s stock after selling 13,251 shares during the quarter. Pathstone Holdings LLC’s holdings in Altria Group were worth $8,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MO. CWM LLC grew its position in shares of Altria Group by 15.3% during the 3rd quarter. CWM LLC now owns 305,704 shares of the company’s stock worth $15,603,000 after purchasing an additional 40,574 shares in the last quarter. Regal Investment Advisors LLC raised its stake in Altria Group by 4.2% in the second quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock valued at $11,476,000 after purchasing an additional 10,079 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Altria Group by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 1,456,308 shares of the company’s stock worth $74,330,000 after purchasing an additional 32,318 shares during the period. Los Angeles Capital Management LLC grew its stake in Altria Group by 729.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock worth $100,511,000 after buying an additional 1,731,932 shares in the last quarter. Finally, White Lighthouse Investment Management Inc. bought a new position in Altria Group in the 3rd quarter valued at about $483,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

MO has been the subject of a number of recent analyst reports. 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. Stifel Nicolaus raised their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America decreased their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.33.

Altria Group Trading Up 0.1 %

Altria Group stock opened at $56.06 on Friday. The stock has a 50-day moving average price of $51.79 and a two-hundred day moving average price of $49.56. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $56.55. The company has a market capitalization of $95.00 billion, a PE ratio of 9.47, a P/E/G ratio of 3.18 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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 net margin of 42.82% and a negative return on equity of 233.80%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the business earned $1.28 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

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.