Pacer Advisors Inc. raised its position in Altria Group, Inc. (NYSE:MO) by 1.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 300,265 shares of the company’s stock after purchasing an additional 3,871 shares during the period. Pacer Advisors Inc.’s holdings in Altria Group were worth $15,362,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Freedman Financial Associates Inc. acquired a new position in shares of Altria Group in the 4th quarter worth approximately $25,000. TRU Independence Asset Management 2 LLC bought a new stake in shares of Altria Group in the 4th quarter valued at $25,000. Encompass Wealth Advisors LLC bought a new stake in shares of Altria Group in the 4th quarter valued at $25,000. Financial Avengers Inc. bought a new stake in shares of Altria Group in the 4th quarter valued at $29,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Altria Group in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 62.18% of the company’s stock.
MO stock traded up $0.37 during midday trading on Thursday, reaching $51.50. 167,676 shares of the company’s stock traded hands, compared to its average volume of 9,292,074. Altria Group, Inc. has a 52 week low of $35.02 and a 52 week high of $52.59. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 8.59. The company has a market cap of $95.72 billion, a price-to-earnings ratio of 142.03, a P/E/G ratio of 2.25 and a beta of 0.54. The firm’s fifty day moving average price is $47.87 and its 200-day moving average price is $42.40.
Altria Group announced that its board has initiated a stock buyback program on Thursday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Thursday, March 25th will be paid a $0.86 dividend. The ex-dividend date is Wednesday, March 24th. This represents a $3.44 annualized dividend and a dividend yield of 6.68%. Altria Group’s payout ratio is 81.52%.
Several analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Altria Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $58.00 in a research note on Thursday, April 1st. Piper Sandler reiterated a “buy” rating and issued a $57.00 price objective on shares of Altria Group in a research note on Monday. Sanford C. Bernstein assumed coverage on shares of Altria Group in a research note on Tuesday, January 19th. They issued an “outperform” rating and a $53.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Altria Group from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, March 19th. Finally, TheStreet upgraded shares of Altria Group from a “c” rating to a “b-” rating in a research note on Thursday, January 28th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $49.90.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, oral tobacco 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, as well as provides on! oral nicotine pouches.
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