Noked Capital LTD lifted its position in Altria Group Inc (NYSE:MO) by 20.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the company’s stock after buying an additional 1,200 shares during the period. Noked Capital LTD’s holdings in Altria Group were worth $331,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. HMS Capital Management LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $41,000. Titan Capital Management LLC CA purchased a new stake in shares of Altria Group during the second quarter worth $44,000. Interactive Financial Advisors grew its holdings in shares of Altria Group by 166.7% during the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after buying an additional 500 shares in the last quarter. Perkins Coie Trust Co grew its holdings in shares of Altria Group by 214.0% during the second quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock worth $46,000 after buying an additional 659 shares in the last quarter. Finally, NuWave Investment Management LLC purchased a new stake in shares of Altria Group during the second quarter worth $46,000. 63.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MO traded down $0.66 during mid-day trading on Wednesday, reaching $40.07. 423,066 shares of the company’s stock were exchanged, compared to its average volume of 16,179,571. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. The stock has a market capitalization of $76.24 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.28 and a beta of 0.38. The business’s fifty day simple moving average is $44.42 and its 200-day simple moving average is $50.29. Altria Group Inc has a 52-week low of $39.30 and a 52-week high of $66.04.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 8.39%. Altria Group’s dividend payout ratio (DPR) is 84.21%.
Altria Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of research firms have recently issued reports on MO. TheStreet lowered shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Piper Jaffray Companies lowered shares of Altria Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $49.00 in a report on Monday, September 9th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a report on Monday, August 26th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Finally, Morgan Stanley raised shares of Altria Group from an “underweight” rating to an “equal weight” rating and set a $44.00 target price for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $58.57.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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