7,785 Shares in Altria Group, Inc. (NYSE:MO) Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,785 shares of the company’s stock, valued at approximately $355,000.

Other hedge funds also recently bought and sold shares of the company. Patten & Patten Inc. TN grew its stake in Altria Group by 1.6% during the first quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock worth $623,000 after buying an additional 224 shares during the last quarter. Hilltop National Bank increased its holdings in Altria Group by 1.6% during the 2nd quarter. Hilltop National Bank now owns 14,667 shares of the company’s stock valued at $668,000 after purchasing an additional 226 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Altria Group by 12.1% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,150 shares of the company’s stock valued at $95,000 after purchasing an additional 232 shares during the last quarter. TCW Group Inc. boosted its stake in Altria Group by 0.6% in the second quarter. TCW Group Inc. now owns 36,732 shares of the company’s stock worth $1,673,000 after purchasing an additional 232 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its holdings in shares of Altria Group by 3.5% during the second quarter. Mayfair Advisory Group LLC now owns 6,889 shares of the company’s stock worth $329,000 after purchasing an additional 234 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MO shares. Stifel Nicolaus lifted their price target on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays boosted their target price on shares of Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. Bank of America increased their price target on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.08.

Altria Group Stock Up 0.7 %

NYSE MO traded up $0.37 during trading hours on Wednesday, hitting $51.81. The company’s stock had a trading volume of 6,156,074 shares, compared to its average volume of 10,501,696. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $51.86. The firm has a market capitalization of $88.99 billion, a P/E ratio of 10.84, a PEG ratio of 3.07 and a beta of 0.66. The stock has a fifty day moving average of $48.25 and a 200 day moving average of $44.92.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company earned $1.31 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Profile

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.