Atlantic Union Bankshares Corp Acquires 4,353 Shares of Altria Group, Inc. (NYSE:MO)

Atlantic Union Bankshares Corp boosted its holdings in Altria Group, Inc. (NYSE:MO) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,809 shares of the company’s stock after purchasing an additional 4,353 shares during the period. Atlantic Union Bankshares Corp’s holdings in Altria Group were worth $4,482,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

MO has been the topic of a number of recent analyst reports. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays boosted their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group boosted their price objective on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.33.

Altria Group Price Performance

NYSE:MO opened at $57.65 on Friday. The company has a market capitalization of $97.71 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.28 and a beta of 0.64. The business has a fifty day simple moving average of $52.40 and a two-hundred day simple moving average of $50.01. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year 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, topping the consensus estimate of $1.35 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. As a group, analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current 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.