Icon Advisers Inc. Co. Boosts Holdings in Altria Group Inc (MO)

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Icon Advisers Inc. Co. raised its holdings in shares of Altria Group Inc (NYSE:MO) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,700 shares of the company’s stock after acquiring an additional 3,600 shares during the period. Icon Advisers Inc. Co.’s holdings in Altria Group were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MO. LFA Lugano Financial Advisors SA bought a new position in Altria Group during the 3rd quarter worth about $103,000. IMA Wealth Inc. acquired a new stake in Altria Group in the 2nd quarter valued at about $106,000. BerganKDV Wealth Management LLC acquired a new stake in Altria Group in the 2nd quarter valued at about $123,000. BDO Wealth Advisors LLC lifted its stake in Altria Group by 165.5% in the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after purchasing an additional 1,385 shares during the last quarter. Finally, Landaas & Co. WI ADV acquired a new stake in Altria Group during the second quarter worth approximately $137,000. Institutional investors own 63.33% of the company’s stock.

MO stock opened at $63.42 on Friday. The firm has a market cap of $122.83 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.86 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 Inc has a 52 week low of $53.91 and a 52 week high of $74.38.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.22 billion. Research analysts expect that Altria Group Inc will post 3.99 earnings per share for the current year.

Several research analysts have recently commented on MO shares. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Tuesday, September 25th. Jefferies Financial Group cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research note on Friday, August 24th. Sanford C. Bernstein assumed coverage on shares of Altria Group in a research report on Tuesday, October 16th. They issued a “market perform” rating on the stock. Bank of America set a $70.00 price target on shares of Altria Group and gave the stock a “buy” rating in a report on Thursday, September 13th. Finally, Stifel Nicolaus cut their price target on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group has a consensus rating of “Buy” and an average price target of $69.87.

In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

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Altria Group Company Profile

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: Diversification Important in Investing

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

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