Mirae Asset Global Investments Co. Ltd. grew its position in Altria Group Inc (NYSE:MO) by 124.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283,291 shares of the company’s stock after buying an additional 156,818 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Altria Group were worth $17,087,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of Altria Group during the 3rd quarter worth approximately $103,000. IMA Wealth Inc. purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $106,000. BDO Wealth Advisors LLC boosted its position in shares of Altria Group by 165.5% during the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock worth $126,000 after purchasing an additional 1,385 shares during the period. Landaas & Co. WI ADV purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $137,000. Finally, New England Asset Management Inc. purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $138,000. 63.79% of the stock is owned by institutional investors and hedge funds.
MO has been the subject of a number of research analyst reports. Argus increased their price objective on shares of Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, October 29th. Sanford C. Bernstein initiated coverage on shares of Altria Group in a research report on Tuesday, October 23rd. They set a “market perform” rating for the company. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Jefferies Financial Group set a $56.00 target price on shares of Altria Group and gave the stock a “hold” rating in a report on Thursday. Finally, Wells Fargo & Co reiterated an “outperform” rating on shares of Altria Group in a report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Altria Group has a consensus rating of “Buy” and an average target price of $68.08.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.22 billion. Equities analysts expect that Altria Group Inc will post 3.99 EPS for the current year.
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Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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