Capital Investment Advisors LLC lifted its stake in shares of Altria Group Inc (NYSE:MO) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,553 shares of the company’s stock after acquiring an additional 9,557 shares during the quarter. Capital Investment Advisors LLC’s holdings in Altria Group were worth $8,612,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Bath Savings Trust Co boosted its holdings in Altria Group by 13.6% in the second quarter. Bath Savings Trust Co now owns 8,770 shares of the company’s stock valued at $415,000 after purchasing an additional 1,050 shares in the last quarter. Thomasville National Bank boosted its holdings in Altria Group by 4.0% in the second quarter. Thomasville National Bank now owns 21,588 shares of the company’s stock valued at $1,022,000 after purchasing an additional 834 shares in the last quarter. LVM Capital Management Ltd. MI boosted its holdings in Altria Group by 3.6% in the second quarter. LVM Capital Management Ltd. MI now owns 94,580 shares of the company’s stock valued at $4,478,000 after purchasing an additional 3,245 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Altria Group by 0.4% in the second quarter. Fulton Bank N.A. now owns 82,686 shares of the company’s stock valued at $3,915,000 after purchasing an additional 331 shares in the last quarter. Finally, Silverleafe Capital Partners LLC boosted its holdings in Altria Group by 2.4% in the second quarter. Silverleafe Capital Partners LLC now owns 15,366 shares of the company’s stock valued at $728,000 after purchasing an additional 362 shares in the last quarter. Institutional investors own 63.28% of the company’s stock.
MO stock opened at $46.96 on Friday. The company has a market capitalization of $87.33 billion, a P/E ratio of 11.77, a PEG ratio of 1.74 and a beta of 0.40. Altria Group Inc has a twelve month low of $39.30 and a twelve month high of $66.04. The business has a 50 day simple moving average of $42.48 and a 200-day simple moving average of $48.25. 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 announced that its board has approved a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s dividend payout ratio is 84.21%.
MO has been the subject of a number of research analyst reports. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Piper Jaffray Companies set a $49.00 price target on Altria Group and gave the company a “hold” rating in a report on Monday, September 30th. Goldman Sachs Group downgraded Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target for the company. in a report on Friday, July 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.35.
Altria Group Company 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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