Taylor Hoffman Wealth Management purchased a new position in Altria Group Inc (NYSE:MO) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,680 shares of the company’s stock, valued at approximately $120,000.
A number of other large investors have also modified their holdings of MO. Balentine LLC boosted its position in Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares in the last quarter. Oak Point Wealth Management purchased a new stake in Altria Group in the 4th quarter worth approximately $120,000. Quantum Capital Management LLC NJ purchased a new stake in Altria Group in the 3rd quarter worth approximately $114,000. Northwest Investment Counselors LLC boosted its position in Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after purchasing an additional 1,543 shares in the last quarter. Finally, Fieldpoint Private Securities LLC boosted its position in Altria Group by 6.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,952 shares of the company’s stock worth $145,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 62.54% of the company’s stock.
MO stock opened at $59.27 on Friday. Altria Group Inc has a 52-week low of $59.07 and a 52-week high of $77.79. The stock has a market capitalization of $114,768.11, a P/E ratio of 11.14, a PEG ratio of 1.75 and a beta of 0.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.72%. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. Altria Group’s dividend payout ratio (DPR) is presently 52.63%.
Altria Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have commented on MO shares. Jefferies Group upgraded Altria Group from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $70.04 to $70.00 in a research report on Friday, January 19th. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $60.01 to $71.00 in a research report on Tuesday, December 19th. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price objective on the stock in a research report on Monday, February 5th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Tuesday, February 6th. Finally, Argus restated a “buy” rating and issued a $79.00 price objective (up previously from $66.13) on shares of Altria Group in a research report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Altria Group has an average rating of “Buy” and an average target price of $75.14.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $62.34, for a total value of $199,488.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Craig A. Johnson sold 14,953 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the completion of the transaction, the chief executive officer now owns 64,809 shares in the company, valued at approximately $4,315,631.31. The disclosure for this sale can be found here. Insiders sold a total of 28,117 shares of company stock worth $1,821,707 in the last 90 days. 0.11% of the stock is currently owned by 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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