Cypress Wealth Advisors LLC lifted its stake in Altria Group Inc (NYSE:MO) by 3.4% during the fourth quarter, HoldingsChannel reports. The fund owned 37,568 shares of the company’s stock after acquiring an additional 1,222 shares during the quarter. Altria Group accounts for 2.6% of Cypress Wealth Advisors LLC’s holdings, making the stock its 10th largest position. Cypress Wealth Advisors LLC’s holdings in Altria Group were worth $2,683,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. NewSquare Capital LLC increased its position in Altria Group by 4,734.7% in the 3rd 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 period. Balentine LLC increased 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 buying an additional 357 shares during the period. Quantum Capital Management LLC NJ bought a new position in Altria Group in the 3rd quarter worth approximately $114,000. Northwest Investment Counselors LLC increased 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 buying an additional 1,543 shares during the period. Finally, Oak Point Wealth Management bought a new position in Altria Group in the 4th quarter worth approximately $120,000. 62.57% of the stock is currently owned by institutional investors and hedge funds.
MO opened at $63.95 on Friday. The company has a market cap of $121,324.66, a PE ratio of 18.92, a PEG ratio of 1.85 and a beta of 0.62. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. Altria Group Inc has a 1 year low of $59.07 and a 1 year high of $77.79.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.38%. Altria Group’s payout ratio is currently 82.84%.
Altria Group announced that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
MO has been the topic of several recent analyst reports. Berenberg Bank raised Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $60.01 to $71.00 in a research report on Tuesday, December 19th. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Vetr downgraded Altria Group from a “hold” rating to a “sell” rating and set a $68.17 price target on the stock. in a research report on Monday, January 22nd. Wells Fargo lifted their price target on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Jefferies Group raised Altria Group from a “hold” rating to a “buy” rating and dropped their price target for the stock from $70.04 to $70.00 in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $74.53.
In other news, CEO Craig A. Johnson sold 14,953 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 64,809 shares in the company, valued at $4,315,631.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were 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. Over the last 90 days, insiders have sold 28,117 shares of company stock worth $1,821,707. 0.11% of the stock is currently owned by company insiders.
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Altria Group 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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