Regent Peak Wealth Advisors LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,483 shares of the company’s stock after acquiring an additional 241 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Altria Group were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of MO. Freedman Financial Associates Inc. acquired a new position in shares of Altria Group during the fourth quarter worth about $25,000. TRU Independence Asset Management 2 LLC acquired a new stake in Altria Group during the 4th quarter valued at $25,000. Encompass Wealth Advisors LLC bought a new stake in Altria Group in the fourth quarter worth $25,000. Financial Avengers Inc. bought a new stake in Altria Group during the fourth quarter valued at about $29,000. Finally, Joseph P. Lucia & Associates LLC bought a new stake in Altria Group during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 62.18% of the company’s stock.
Shares of Altria Group stock traded down $0.21 on Tuesday, reaching $48.16. 162,269 shares of the stock were exchanged, compared to its average volume of 9,983,097. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 8.59. Altria Group, Inc. has a twelve month low of $35.02 and a twelve month high of $52.59. The firm has a market capitalization of $89.20 billion, a price-to-earnings ratio of 134.36, a PEG ratio of 2.25 and a beta of 0.54. The business has a 50 day moving average price of $50.09 and a two-hundred day moving average price of $43.72.
The business also recently declared a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Thursday, March 25th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend was Wednesday, March 24th. Altria Group’s payout ratio is 81.52%.
Altria Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms recently weighed in on MO. Stifel Nicolaus reiterated a “buy” rating and issued a $56.00 target price on shares of Altria Group in a research note on Friday, April 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “neutral” rating and issued a $46.00 target price on shares of Altria Group in a research note on Monday, March 22nd. UBS Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Tuesday, March 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Altria Group from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, March 19th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Altria Group in a report on Sunday, January 31st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Altria Group has an average rating of “Buy” and an average price target of $51.00.
Altria Group Company Profile
Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Smokeless Products, and Wine. The Smokeable Products segment comprised of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.
Further Reading: Dividend Reinvestment Plan (DRIP)
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