Brooklyn Investment Group Takes $250,000 Position in Altria Group, Inc. (NYSE:MO)

Brooklyn Investment Group acquired a new position in Altria Group, Inc. (NYSE:MO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,899 shares of the company’s stock, valued at approximately $250,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Aviance Capital Partners LLC grew its position in Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after acquiring an additional 191 shares in the last quarter. Delta Investment Management LLC boosted its stake in shares of Altria Group by 2.9% in the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares during the period. Scarborough Advisors LLC grew its holdings in shares of Altria Group by 18.5% in the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after purchasing an additional 200 shares in the last quarter. American Institute for Advanced Investment Management LLP increased its stake in Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after buying an additional 200 shares during the period. Finally, Ridgecrest Wealth Partners LLC lifted its holdings in Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after buying an additional 200 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

MO opened at $57.58 on Wednesday. Altria Group, Inc. has a one year low of $39.25 and a one year high of $57.60. The company has a market cap of $97.59 billion, a P/E ratio of 9.73, a PEG ratio of 3.23 and a beta of 0.64. The business’s 50-day simple moving average is $52.11 and its 200-day simple moving average is $49.90.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on MO shares. Barclays boosted their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Bank of America reduced their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.33.

Altria Group 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.