Strategic Blueprint LLC acquired a new stake in shares of Altria Group Inc (NYSE:MO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,327 shares of the company’s stock, valued at approximately $54,000.
Other institutional investors also recently modified their holdings of the company. HMS Capital Management LLC bought a new stake in Altria Group during the 2nd quarter valued at about $41,000. Salomon & Ludwin LLC increased its position in Altria Group by 189.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares during the period. Titan Capital Management LLC CA purchased a new position in Altria Group during the 2nd quarter valued at about $44,000. Perkins Coie Trust Co grew its position in shares of Altria Group by 214.0% in the 2nd quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock worth $46,000 after buying an additional 659 shares during the last quarter. Finally, NuWave Investment Management LLC purchased a new position in shares of Altria Group in the 2nd quarter worth approximately $46,000. Institutional investors own 63.29% of the company’s stock.
NYSE MO traded up $0.38 on Friday, hitting $44.36. 6,074,089 shares of the company’s stock traded hands, compared to its average volume of 12,845,631. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $66.04. The firm’s 50-day moving average price is $42.32 and its two-hundred day moving average price is $48.62. The firm has a market capitalization of $81.13 billion, a PE ratio of 11.12, a P/E/G ratio of 1.61 and a beta of 0.40.
Altria Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 7.57%. This is a boost from Altria Group’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, September 13th. Altria Group’s payout ratio is presently 84.21%.
A number of research analysts have recently issued reports on MO shares. Barclays set a $50.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Argus set a $60.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada set a $68.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised shares of Altria Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $46.00 in a research report on Friday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Altria Group currently has a consensus rating of “Hold” and a consensus price target of $55.35.
About Altria Group
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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