Providence Wealth Advisors LLC Acquires Shares of 8,482 Altria Group, Inc. (NYSE:MO)

Providence Wealth Advisors LLC acquired a new stake in Altria Group, Inc. (NYSE:MO) during the third quarter, according to its most recent filing with the SEC. The firm acquired 8,482 shares of the company’s stock, valued at approximately $421,000.

A number of other hedge funds have also recently bought and sold shares of MO. MFA Wealth Advisors LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $30,000. Valley Wealth Managers Inc. lifted its stake in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after purchasing an additional 260 shares during the period. Peterson Financial Group Inc. acquired a new stake in Altria Group during the 3rd quarter worth $41,000. Finally, Lynx Investment Advisory acquired a new stake in Altria Group during the 2nd quarter worth $44,000. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup raised their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Bank of America dropped their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock 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 research note on Wednesday, November 6th. 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 research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.33.

Altria Group Price Performance

Shares of NYSE MO opened at $57.65 on Friday. The stock has a market capitalization of $97.71 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.28 and a beta of 0.64. The business has a 50-day moving average of $52.40 and a 200-day moving average of $50.01. 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 announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. The company 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%. Altria Group’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. On average, sell-side analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

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.