Mosaic Family Wealth LLC trimmed its position in Altria Group Inc (NYSE:MO) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,276 shares of the company’s stock after selling 1,335 shares during the quarter. Mosaic Family Wealth LLC’s holdings in Altria Group were worth $448,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. NewSquare Capital LLC boosted its position in shares of Altria Group by 4,734.7% during the 3rd quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock valued at $109,000 after acquiring an additional 106,530 shares during the last quarter. Balentine LLC boosted its position in shares of Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after acquiring an additional 357 shares during the last quarter. Quantum Capital Management LLC NJ bought a new position in shares of Altria Group during the 3rd quarter valued at approximately $114,000. Northwest Investment Counselors LLC boosted its position in shares of Altria Group by 557.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after acquiring an additional 1,543 shares during the last quarter. Finally, Oak Point Wealth Management bought a new position in shares of Altria Group during the 4th quarter valued at approximately $120,000. Institutional investors and hedge funds own 62.57% of the company’s stock.
NYSE:MO opened at $63.85 on Friday. Altria Group Inc has a fifty-two week low of $59.07 and a fifty-two week high of $77.79. The firm has a market cap of $120,393.44, a P/E ratio of 18.89, a P/E/G ratio of 1.84 and a beta of 0.62. 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 has authorized a share repurchase program on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Thursday, March 15th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. Altria Group’s dividend payout ratio is presently 82.84%.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total value of $995,720.27. Following the sale, the chief executive officer now owns 64,809 shares in the company, valued at $4,315,631.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the 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 disclosure for this sale can be found here. Insiders have 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.
A number of research analysts have recently commented on the company. Deutsche Bank assumed coverage on Altria Group in a research report on Monday, March 26th. They set a “buy” rating and a $72.00 target price for the company. Jefferies Group reiterated a “buy” rating and set a $84.00 target price on shares of Altria Group in a research report on Thursday, March 15th. Argus reiterated a “buy” rating and set a $79.00 target price (up from $66.13) on shares of Altria Group in a research report on Wednesday, March 14th. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $76.87 target price for the company in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $74.99.
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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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