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

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

A number of other institutional investors have also added to or reduced their stakes in the stock. MFA Wealth Advisors LLC bought a new stake in shares of Altria Group during the second quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new stake in Altria Group in the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. boosted its holdings in 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. bought a new position in Altria Group in the 3rd quarter valued at $41,000. Finally, Lynx Investment Advisory purchased a new position in shares of Altria Group during the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays boosted their price objective on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Bank of America decreased their price target 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price 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 P/E ratio of 9.74, a PEG ratio of 3.28 and a beta of 0.64. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The firm’s 50 day simple moving average is $52.40 and its two-hundred day simple moving average is $50.01.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $6.26 billion for 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%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $1.28 earnings per share. As a group, equities analysts expect 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.