Highstreet Asset Management Inc. Reduces Position in Altria Group Inc (MO)
Highstreet Asset Management Inc. decreased its holdings in Altria Group Inc (NYSE:MO) by 43.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 247,584 shares of the company’s stock after selling 191,491 shares during the period. Highstreet Asset Management Inc.’s holdings in Altria Group were worth $14,932,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA bought a new stake in Altria Group during the 3rd quarter worth $103,000. IMA Wealth Inc. bought a new stake in shares of Altria Group in the 2nd quarter valued at about $106,000. BerganKDV Wealth Management LLC bought a new stake in shares of Altria Group in the 2nd quarter valued at about $123,000. BDO Wealth Advisors LLC grew its position in shares of Altria Group by 165.5% in the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after buying an additional 1,385 shares during the last quarter. Finally, Landaas & Co. WI ADV bought a new stake in shares of Altria Group in the 2nd quarter valued at about $137,000. Institutional investors own 64.49% of the company’s stock.
MO has been the topic of a number of analyst reports. ValuEngine upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Jefferies Financial Group lowered Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Friday, August 24th. Bank of America set a $70.00 price target on Altria Group and gave the company a “buy” rating in a research report on Thursday, September 13th. Citigroup upped their price target on Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research report on Friday, September 21st. Finally, Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $67.81.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. Analysts anticipate that Altria Group Inc will post 3.99 EPS for the current year.
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About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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