Canandaigua National Bank & Trust Co. increased its position in shares of Altria Group Inc (NYSE:MO) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,895 shares of the company’s stock after buying an additional 780 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Altria Group were worth $778,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in MO. Parallel Advisors LLC grew its holdings in Altria Group by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 19,273 shares of the company’s stock worth $1,252,000 after acquiring an additional 727 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Altria Group by 24.6% during the 2nd quarter. Great Lakes Advisors LLC now owns 316,435 shares of the company’s stock worth $23,565,000 after acquiring an additional 62,486 shares in the last quarter. Prudential Financial Inc. grew its holdings in Altria Group by 26.6% during the 2nd quarter. Prudential Financial Inc. now owns 4,957,386 shares of the company’s stock worth $369,177,000 after acquiring an additional 1,040,250 shares in the last quarter. Intrust Bank NA grew its holdings in Altria Group by 2.4% during the 2nd quarter. Intrust Bank NA now owns 23,873 shares of the company’s stock worth $1,778,000 after acquiring an additional 562 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Altria Group by 1.3% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 31,034 shares of the company’s stock worth $2,016,000 after acquiring an additional 403 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group Inc (MO) opened at $65.65 on Monday. Altria Group Inc has a fifty-two week low of $60.01 and a fifty-two week high of $77.79. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.31. The company has a market cap of $124,760.00, a PE ratio of 18.44, a PEG ratio of 1.91 and a beta of 0.63.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, March 14th. Altria Group’s payout ratio is presently 74.16%.
Altria Group declared that its board has initiated a share repurchase plan on Thursday, February 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have weighed in on MO shares. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $76.87 price target for the company in a report on Monday, February 12th. Jefferies Group set a $72.00 price target on shares of Altria Group and gave the company a “hold” rating in a report on Friday, November 17th. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $60.01 to $71.00 in a report on Tuesday, December 19th. Finally, Wells Fargo & Co lifted their price target on shares of Altria Group from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.66.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the completion of the transaction, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at approximately $4,315,631.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian W. Quigley sold 3,464 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.40, for a total transaction of $216,153.60. The disclosure for this sale can be found here. Insiders have sold a total of 28,117 shares of company stock valued at $1,821,707 over the last three months. 0.11% of the stock is currently owned by company insiders.
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Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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