Norinchukin Bank The boosted its position in Altria Group Inc (NYSE:MO) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,605 shares of the company’s stock after buying an additional 9,125 shares during the quarter. Norinchukin Bank The’s holdings in Altria Group were worth $18,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its position in Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares during the last quarter. Balentine LLC grew its position in shares of Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares in the last quarter. Quantum Capital Management LLC NJ purchased a new position in shares of Altria Group in the third quarter valued at $114,000. Northwest Investment Counselors LLC grew its position in shares of Altria Group by 557.0% in the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after purchasing an additional 1,543 shares in the last quarter. Finally, Oak Point Wealth Management purchased a new position in shares of Altria Group in the fourth quarter valued at $120,000. 62.57% of the stock is owned by institutional investors and hedge funds.
Shares of Altria Group Inc (MO) opened at $59.27 on Monday. The stock has a market capitalization of $112,639.61, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.72 and a beta of 0.63. Altria Group Inc has a 52 week low of $59.07 and a 52 week high of $77.79. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64.
Altria Group announced that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Thursday, March 15th will be paid a dividend of $0.70 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 annualized dividend and a yield of 4.72%. Altria Group’s dividend payout ratio (DPR) is currently 52.63%.
In related news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the completion of the sale, the chief executive officer now owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James E. Dillard III sold 6,500 shares of Altria Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $63.13, for a total value of $410,345.00. The disclosure for this sale can be found here. Insiders have sold 28,117 shares of company stock valued at $1,821,707 in the last three months. 0.11% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on the company. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target for the company in a research report on Monday, February 5th. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Jefferies Group upgraded Altria Group from a “hold” rating to a “buy” rating and reduced their price target for the company from $70.04 to $70.00 in a research report on Friday, January 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $62.00 price target (down from $65.00) on shares of Altria Group in a research report on Monday, February 5th. Finally, Argus reiterated a “buy” rating and issued a $79.00 price target (up 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 assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $75.14.
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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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