5 Best Marijuana Stocks To Buy Now

2. Altria Group, Inc. (NYSE:MO)

Number of Hedge Fund Holders: 47

Altria Group, Inc. (NYSE:MO) is an American firm that makes and sells cigarettes, moist smokeless tobacco, machine-made cigars, and other tobacco products through its subsidiaries. In 2019, Altria Group, Inc. (NYSE:MO) purchased a 45% stake in Cronos, a global cannabinoid corporation that conducts cannabis research, technology, and product development.

On October 27, 2022, Altria Group, Inc. (NYSE:MO) announced its result for the third quarter of 2022. The company’s revenue during the quarter was recorded at $5.4 billion, a decrease of 2.1% YoY. The Normalized EPS of $1.28 missed the market consensus estimate by $0.02.

According to Insider Monkey’s database, 47 hedge funds had stakes in Altria Group, Inc. (NYSE:MO) at the end of the September quarter. Arrowstreet Capital remained the leading stakeholder of the company at the end of the third quarter.