Resources Management Corp CT ADV Sells 600 Shares of Altria Group, Inc. (NYSE:MO)

Resources Management Corp CT ADV cut its holdings in Altria Group, Inc. (NYSE:MO) by 18.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,720 shares of the company’s stock after selling 600 shares during the quarter. Resources Management Corp CT ADV’s holdings in Altria Group were worth $139,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its holdings in Altria Group by 18.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,231 shares of the company’s stock worth $1,741,000 after acquiring an additional 6,068 shares in the last quarter. GPS Wealth Strategies Group LLC grew its holdings in shares of Altria Group by 67.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 4,659 shares of the company’s stock valued at $212,000 after purchasing an additional 1,870 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Altria Group by 6.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 107,369 shares of the company’s stock valued at $4,891,000 after purchasing an additional 6,282 shares in the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Altria Group by 16.2% in the second quarter. Baader Bank Aktiengesellschaft now owns 9,294 shares of the company’s stock valued at $412,000 after purchasing an additional 1,294 shares in the last quarter. Finally, High Net Worth Advisory Group LLC purchased a new position in shares of Altria Group in the second quarter valued at $207,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

MO stock opened at $55.50 on Wednesday. The business has a 50-day moving average price of $53.23 and a 200 day moving average price of $50.61. The company has a market capitalization of $94.06 billion, a P/E ratio of 9.38, a PEG ratio of 3.26 and a beta of 0.63. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03.

Altria Group (NYSE:MO) last released 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. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts anticipate that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MO shares. Barclays raised their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, UBS Group raised their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $53.33.

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.