Paradigm Capital Management LLC NV Increases Position in Altria Group, Inc. $MO

by · The Cerbat Gem

Paradigm Capital Management LLC NV lifted its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 4.2% during the first quarter, Holdings Channel reports. The fund owned 30,978 shares of the company’s stock after purchasing an additional 1,260 shares during the quarter. Altria Group accounts for 1.9% of Paradigm Capital Management LLC NV’s investment portfolio, making the stock its 15th largest holding. Paradigm Capital Management LLC NV’s holdings in Altria Group were worth $1,859,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MO. GQG Partners LLC grew its stake in Altria Group by 8,146.4% in the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock worth $1,122,290,000 after purchasing an additional 18,471,846 shares in the last quarter. Nuveen LLC acquired a new position in Altria Group in the first quarter valued at approximately $219,141,000. Charles Schwab Investment Management Inc. boosted its stake in Altria Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock valued at $3,798,592,000 after acquiring an additional 3,483,487 shares during the period. JPMorgan Chase & Co. boosted its stake in Altria Group by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock valued at $717,913,000 after acquiring an additional 3,415,237 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Altria Group by 111.3% in the first quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock valued at $333,606,000 after acquiring an additional 2,928,006 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on MO shares. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their target price on Altria Group from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Barclays lifted their target price on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Citigroup lifted their target price on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, Morgan Stanley lifted their target price on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus target price of $59.13.

View Our Latest Stock Analysis on MO

Altria Group Trading Up 0.3%

MO opened at $66.00 on Tuesday. The business’s 50 day moving average is $60.45 and its 200-day moving average is $58.44. The stock has a market cap of $110.87 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $66.60.

Altria Group (NYSE:MO – Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

About Altria Group

(Free Report)

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.

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