Northwestern Mutual Wealth Management Co. bought a new stake in Altria Group, Inc. (NYSE:MO – Free Report) during the 2nd quarter, Holdings Channel reports. The firm bought 266,421 shares of the company’s stock, valued at approximately $19,169,000.
Other institutional investors have also modified their holdings of the company. CFO4Life Group LLC acquired a new stake in shares of Altria Group during the second quarter worth $710,000. Quantbot Technologies LP acquired a new position in Altria Group in the 2nd quarter valued at $659,000. Fortress Financial Group LLC purchased a new position in Altria Group during the 2nd quarter worth $202,000. Evolve Private Wealth LLC purchased a new position in Altria Group during the 2nd quarter worth $4,630,000. Finally, Varma Mutual Pension Insurance Co acquired a new stake in shares of Altria Group in the 2nd quarter worth $21,420,000. Institutional investors and hedge funds own 57.41% of the company’s stock.
Altria Group Stock Up 3.6%
NYSE:MO opened at $68.46 on Tuesday. Altria Group, Inc. has a 52-week low of $54.70 and a 52-week high of $77.06. The stock has a fifty day simple moving average of $70.18 and a 200-day simple moving average of $68.89. The company has a market capitalization of $114.32 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Barclays lowered their target price on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a report on Tuesday, August 11th. Jefferies Financial Group increased their price target on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Stifel Nicolaus increased their target price on Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.11.
Get Our Latest Research Report on MO
About Altria Group
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
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