Lane & Associates LLC Has $292,000 Holdings in Altria Group, Inc. (NYSE:MO)

Lane & Associates LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,727 shares of the company’s stock after selling 487 shares during the period. Lane & Associates LLC’s holdings in Altria Group were worth $292,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MO. MFA Wealth Advisors LLC acquired a new position in shares of Altria Group during the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Altria Group during the 2nd quarter worth about $30,000. Valley Wealth Managers Inc. boosted its stake in shares of Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after buying an additional 260 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Altria Group in the 3rd quarter valued at about $41,000. Finally, Lynx Investment Advisory acquired a new stake in Altria Group in the 2nd quarter valued at about $44,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MO. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Barclays raised their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Bank of America cut their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $51.33.

Altria Group Stock Up 1.2 %

Altria Group stock opened at $56.73 on Friday. The stock has a market cap of $96.15 billion, a P/E ratio of 9.58, a P/E/G ratio of 3.19 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $56.84. The company’s 50-day moving average price is $51.87 and its two-hundred day moving average price is $49.69.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Equities analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Company 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.