Algert Global LLC Increases Stake in Altria Group, Inc. $MO

Key Points

• Algert Global LLC increased its stake in Altria Group, Inc. by 17.1%, acquiring an additional 16,443 shares, bringing its total holdings to 112,848 shares valued at approximately $6.77 million.
• Multiple hedge funds have either increased or initiated stakes in Altria, with a significant increase of 226.3% in shares by Sierra Ocean LLC.
• Altria’s recent earnings report revealed a $1.44 EPS, exceeding analysts' estimates, with revenues showing a year-over-year increase of 0.2%.

Algert Global LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,848 shares of the company's stock after buying an additional 16,443 shares during the period. Algert Global LLC's holdings in Altria Group were worth $6,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Inlight Wealth Management LLC purchased a new stake in shares of Altria Group in the first quarter worth $31,000. Sierra Ocean LLC increased its stake in shares of Altria Group by 226.3% in the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Altria Group in the fourth quarter worth $33,000. Bellwether Advisors LLC purchased a new stake in shares of Altria Group in the fourth quarter worth $38,000. Finally, TruNorth Capital Management LLC boosted its position in shares of Altria Group by 51.8% during the first quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after acquiring an additional 217 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

NYSE:MO opened at $65.82 on Monday. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $66.29. The stock has a market capitalization of $110.57 billion, a P/E ratio of 12.73, a P/E/G ratio of 3.54 and a beta of 0.59. The company's 50-day simple moving average is $60.31 and its 200-day simple moving average is $58.34.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same period last year, the business earned $1.31 EPS. Altria Group's revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MO. Citigroup upped their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their price objective on shares of Altria Group from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their price objective on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $59.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.