Horizon Kinetics Asset Management LLC Acquires 23,611 Shares of Altria Group, Inc. (NYSE:MO)

Horizon Kinetics Asset Management LLC lifted its holdings in Altria Group, Inc. (NYSE:MO) by 58.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,667 shares of the company’s stock after acquiring an additional 23,611 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Altria Group were worth $3,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MO. Aviance Capital Partners LLC boosted its stake in Altria Group by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after buying an additional 191 shares during the period. Delta Investment Management LLC lifted its holdings in shares of Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after acquiring an additional 198 shares during the last quarter. Scarborough Advisors LLC boosted its stake in shares of Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares during the period. American Institute for Advanced Investment Management LLP raised its position in Altria Group by 3.5% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares during the period. Finally, Ridgecrest Wealth Partners LLC lifted its stake in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MO. UBS Group upped their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Bank of America lowered their target price on shares of 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 raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two 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 stock. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $51.33.

Altria Group Price Performance

MO stock opened at $56.92 on Monday. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $56.92. The business has a 50-day moving average price of $51.87 and a 200 day moving average price of $49.73. The company has a market capitalization of $96.47 billion, a P/E ratio of 9.58, a PEG ratio of 3.23 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, 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.