Wealthfront Advisers LLC increased its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 20.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 372,191 shares of the company’s stock after purchasing an additional 62,139 shares during the period. Wealthfront Advisers LLC’s holdings in Altria Group were worth $26,779,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in Altria Group during the 2nd quarter valued at $27,000. Navalign LLC bought a new position in shares of Altria Group during the 4th quarter valued at $28,000. Miller Capital Partners Inc. purchased a new position in shares of Altria Group in the 4th quarter worth $29,000. Hughes Financial Services LLC boosted its stake in shares of Altria Group by 62.9% in the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 197 shares during the last quarter. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Altria Group by 78.8% in the first quarter. Physician Wealth Advisors Inc. now owns 524 shares of the company’s stock worth $35,000 after acquiring an additional 231 shares during the period. Institutional investors own 57.41% of the company’s stock.
Altria Group Trading Down 1.6%
Shares of NYSE:MO opened at $65.87 on Friday. The stock has a 50 day moving average of $70.20 and a 200 day moving average of $68.81. The company has a market cap of $109.99 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $77.06.
Insiders Place Their Bets
In other news, Director Ennis Debra J. Kelly sold 5,790 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $418,327.50. Following the sale, the director directly owned 73,809 shares in the company, valued at $5,332,700.25. This trade represents a 7.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total transaction of $145,120.00. Following the sale, the director owned 25,102 shares in the company, valued at $1,821,401.12. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on MO. Barclays reduced their price objective on Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research report on Tuesday, August 11th. UBS Group raised their target price on Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $77.00 price target on shares of Altria Group in a research report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.11.
Get Our Latest Stock Analysis on MO
Altria Group Company Profile
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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