First National Bank of Omaha cut its stake in shares of Altria Group Inc (NYSE:MO) by 3.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,686 shares of the company’s stock after selling 446 shares during the period. First National Bank of Omaha’s holdings in Altria Group were worth $560,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MO. Bath Savings Trust Co lifted its position in Altria Group by 13.6% during the 2nd quarter. Bath Savings Trust Co now owns 8,770 shares of the company’s stock worth $415,000 after acquiring an additional 1,050 shares in the last quarter. Thomasville National Bank lifted its position in Altria Group by 4.0% during the 2nd quarter. Thomasville National Bank now owns 21,588 shares of the company’s stock worth $1,022,000 after acquiring an additional 834 shares in the last quarter. LVM Capital Management Ltd. MI lifted its position in Altria Group by 3.6% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 94,580 shares of the company’s stock worth $4,478,000 after acquiring an additional 3,245 shares in the last quarter. Fulton Bank N.A. lifted its position in Altria Group by 0.4% during the 2nd quarter. Fulton Bank N.A. now owns 82,686 shares of the company’s stock worth $3,915,000 after acquiring an additional 331 shares in the last quarter. Finally, Silverleafe Capital Partners LLC lifted its position in Altria Group by 2.4% during the 2nd quarter. Silverleafe Capital Partners LLC now owns 15,366 shares of the company’s stock worth $728,000 after acquiring an additional 362 shares in the last quarter. 63.27% of the stock is currently owned by hedge funds and other institutional investors.
MO stock opened at $46.41 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.56 and a debt-to-equity ratio of 2.53. Altria Group Inc has a 52-week low of $39.30 and a 52-week high of $66.04. The stock’s 50 day moving average is $43.42 and its two-hundred day moving average is $47.52. The company has a market capitalization of $86.40 billion, a PE ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41.
Altria Group announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 7.24%. This is an increase from Altria Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, September 13th. Altria Group’s payout ratio is 84.21%.
MO has been the topic of several analyst reports. Citigroup lifted their price objective on Altria Group from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Cowen restated a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a report on Monday, August 26th. Morgan Stanley set a $44.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Tuesday, September 24th. Finally, Barclays set a $50.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.35.
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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