Patton Albertson Miller Group LLC Sells 300 Shares of Altria Group, Inc. (NYSE:MO)

Patton Albertson Miller Group LLC lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. MFA Wealth Advisors LLC bought a new stake in Altria Group during the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of Altria Group in the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. increased its position in shares of Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Altria Group in the third quarter valued at approximately $41,000. Finally, Lynx Investment Advisory purchased a new position in Altria Group in the 2nd quarter worth approximately $44,000. Institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Altria Group Stock Performance

Shares of Altria Group stock opened at $56.75 on Tuesday. The company’s 50 day moving average price is $51.97 and its 200-day moving average price is $49.81. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $57.20. The stock has a market capitalization of $96.17 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 3.23 and a beta of 0.64.

Altria Group (NYSE:MO) last released its quarterly 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. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Altria Group’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 EPS. As a group, equities research analysts forecast 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.