Chelsea Counsel Co. Boosts Stock Position in Altria Group, Inc. (NYSE:MO)

by · The Markets Daily

Chelsea Counsel Co. raised its position in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,300 shares of the company’s stock after buying an additional 1,465 shares during the quarter. Chelsea Counsel Co.’s holdings in Altria Group were worth $1,056,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MO. State Street Corp boosted its position in shares of Altria Group by 5.6% in the 3rd quarter. State Street Corp now owns 73,481,686 shares of the company’s stock worth $3,821,831,000 after purchasing an additional 3,910,738 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Altria Group by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company’s stock worth $2,935,224,000 after acquiring an additional 589,832 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Altria Group by 2.5% during the third quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company’s stock worth $2,079,919,000 after acquiring an additional 1,003,605 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Altria Group by 1.6% during the second quarter. Legal & General Group Plc now owns 12,355,509 shares of the company’s stock valued at $562,793,000 after acquiring an additional 191,236 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Altria Group by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock valued at $295,055,000 after purchasing an additional 1,299,703 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Down 1.4 %

Altria Group stock opened at $54.71 on Thursday. The business’s 50-day moving average price is $53.41 and its 200 day moving average price is $50.71. The firm has a market cap of $92.72 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 3.26 and a beta of 0.63. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03.

Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the company earned $1.28 EPS. The business’s revenue was up 18.6% on a year-over-year basis. Equities analysts expect that Altria Group, Inc. will post 5.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MO. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Citigroup lifted their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average target price of $53.33.

Read Our Latest Research Report on Altria Group

Altria Group Company Profile

(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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