Garden State Investment Advisory Services LLC Purchases 530 Shares of Altria Group, Inc. (NYSE:MO)

Garden State Investment Advisory Services LLC lifted its position in Altria Group, Inc. (NYSE:MO) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 13,546 shares of the company’s stock after purchasing an additional 530 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Altria Group were worth $692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. increased its stake in Altria Group by 18.6% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 5,949 shares of the company’s stock worth $304,000 after buying an additional 934 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Altria Group by 2,103.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 50,766 shares of the company’s stock worth $2,591,000 after buying an additional 48,462 shares in the last quarter. Atom Investors LP boosted its stake in shares of Altria Group by 13.1% in the third quarter. Atom Investors LP now owns 33,669 shares of the company’s stock worth $1,718,000 after acquiring an additional 3,903 shares during the period. Paradigm Capital Management LLC NV bought a new position in shares of Altria Group in the third quarter worth about $1,412,000. Finally, True Wealth Design LLC grew its position in shares of Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MO shares. Barclays boosted their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Bank of America lowered 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. Stifel Nicolaus raised their target price on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, Citigroup increased their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.33.

Altria Group Stock Up 0.2 %

Altria Group stock opened at $57.74 on Monday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03. The firm’s fifty day moving average is $52.55 and its 200 day moving average is $50.16. The company has a market cap of $97.86 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.28 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the prior year, the company earned $1.28 EPS. The business’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts anticipate 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.