Patton Albertson Miller Group LLC Decreases Holdings in Altria Group, Inc. (NYSE:MO)

Patton Albertson Miller Group LLC decreased its position in Altria Group, Inc. (NYSE:MO) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 11,293 shares of the company’s stock after selling 300 shares during the period. Patton Albertson Miller Group LLC’s holdings in Altria Group were worth $576,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MFA Wealth Advisors LLC bought a new stake in Altria Group during the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in Altria Group during the 2nd quarter valued at approximately $30,000. Valley Wealth Managers Inc. raised its position in shares of Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after buying an additional 260 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Altria Group in the third quarter worth $41,000. Finally, Fairman Group LLC boosted its position in shares of Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays upped their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. UBS Group upped their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Finally, Bank of America dropped their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.33.

Altria Group Trading Up 0.0 %

Shares of NYSE:MO opened at $56.75 on Tuesday. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $57.20. The company has a market capitalization of $96.17 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 3.23 and a beta of 0.64. The firm’s 50-day moving average is $51.97 and its 200 day moving average is $49.81.

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

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.