Glenmede Trust Co. NA Has $8.84 Million Position in Altria Group, Inc. (NYSE:MO)

Glenmede Trust Co. NA cut its position in shares of Altria Group, Inc. (NYSE:MO) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,179 shares of the company’s stock after selling 5,000 shares during the quarter. Glenmede Trust Co. NA’s holdings in Altria Group were worth $8,839,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its stake in shares of Altria Group by 10.0% in the first quarter. Atria Investments Inc now owns 102,257 shares of the company’s stock valued at $4,460,000 after purchasing an additional 9,290 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Altria Group by 7.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 395,085 shares of the company’s stock valued at $17,289,000 after buying an additional 28,718 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Altria Group by 30.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,820 shares of the company’s stock valued at $255,000 after buying an additional 1,344 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of Altria Group by 13.0% during the 1st quarter. HM Payson & Co. now owns 48,152 shares of the company’s stock worth $2,100,000 after acquiring an additional 5,522 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Altria Group by 78.8% during the 2nd quarter. GAMMA Investing LLC now owns 20,662 shares of the company’s stock worth $941,000 after acquiring an additional 9,106 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Price Performance

MO stock opened at $57.74 on Friday. The stock has a market capitalization of $97.86 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 3.28 and a beta of 0.64. The business has a fifty day moving average price of $52.55 and a 200 day moving average price of $50.10. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (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 analysts’ expectations of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 earnings per share. On average, equities analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MO shares. Barclays upped their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Citigroup increased their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Bank of America cut their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average price target of $51.33.

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.