Comerica Securities Inc. grew its position in shares of Altria Group Inc (NYSE:MO) by 5.0% in the third quarter, HoldingsChannel reports. The firm owned 27,461 shares of the company’s stock after purchasing an additional 1,314 shares during the period. Comerica Securities Inc.’s holdings in Altria Group were worth $1,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL lifted its stake in Altria Group by 9.9% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock worth $540,000 after purchasing an additional 859 shares during the last quarter. Burney Co. lifted its stake in Altria Group by 4.0% in the second quarter. Burney Co. now owns 22,348 shares of the company’s stock worth $1,269,000 after purchasing an additional 859 shares during the last quarter. Reliance Trust Co. of Delaware lifted its stake in Altria Group by 1.3% in the third quarter. Reliance Trust Co. of Delaware now owns 65,627 shares of the company’s stock worth $3,958,000 after purchasing an additional 871 shares during the last quarter. Cpwm LLC lifted its stake in Altria Group by 23.9% in the second quarter. Cpwm LLC now owns 4,527 shares of the company’s stock worth $257,000 after purchasing an additional 874 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Altria Group by 3.9% in the second quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock worth $1,323,000 after purchasing an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.

MO stock opened at $63.42 on Friday. Altria Group Inc has a 12-month low of $53.91 and a 12-month high of $74.38. The stock has a market capitalization of $121.89 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.84 and a beta of 0.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.60.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.22 billion. As a group, equities analysts predict that Altria Group Inc will post 3.99 EPS for the current year.

Several research firms have weighed in on MO. Argus boosted their price target on shares of Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Piper Jaffray Companies set a $75.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Sanford C. Bernstein began coverage on shares of Altria Group in a research note on Tuesday, October 23rd. They issued a “market perform” rating for the company. Finally, Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.87.

TRADEMARK VIOLATION NOTICE: This report was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2018/11/10/altria-group-inc-mo-stake-lifted-by-comerica-securities-inc.html.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

Further Reading: The Discount Rate – What You Need to Know

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group Inc (NYSE:MO).

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.