Altria Group, Inc. (NYSE:MO) Shares Acquired by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. raised its stake in Altria Group, Inc. (NYSE:MO) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,949 shares of the company’s stock after acquiring an additional 934 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Altria Group were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new position in Altria Group in the second quarter valued at approximately $27,000. True Wealth Design LLC boosted its stake in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares during the period. Hobbs Group Advisors LLC acquired a new position in Altria Group in the second quarter valued at approximately $30,000. Valley Wealth Managers Inc. boosted its stake in Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in Altria Group in the third quarter valued at approximately $41,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Altria Group Price Performance

Shares of NYSE:MO opened at $57.18 on Tuesday. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The stock has a market cap of $96.91 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.28 and a beta of 0.63. The stock’s 50 day moving average price is $52.55 and its 200 day moving average price is $50.16.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

About Altria Group

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.