Hendley & Co. Inc. raised its holdings in Altria (NYSE:MO) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,025 shares of the company’s stock after acquiring an additional 4,650 shares during the period. Hendley & Co. Inc.’s holdings in Altria were worth $1,747,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Quantum Capital Management LLC NJ acquired a new position in shares of Altria during the third quarter worth about $114,000. Oak Point Wealth Management acquired a new position in shares of Altria during the fourth quarter worth about $120,000. Taylor Hoffman Wealth Management acquired a new position in shares of Altria during the fourth quarter worth about $120,000. Smart Portfolios LLC acquired a new position in shares of Altria during the first quarter worth about $129,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Altria during the fourth quarter worth about $134,000. 63.05% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE MO opened at $55.54 on Friday. Altria has a 52 week low of $53.91 and a 52 week high of $77.79. The company has a quick ratio of 0.34, a current ratio of 0.65 and a debt-to-equity ratio of 0.85. The company has a market cap of $105.12 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.62 and a beta of 0.63.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Friday, June 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 annualized dividend and a yield of 5.04%. Altria’s dividend payout ratio is 82.84%.
Altria announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on MO shares. Vetr raised Altria from a “hold” rating to a “buy” rating and set a $71.45 price objective for the company in a research report on Monday, February 5th. Zacks Investment Research raised Altria from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Monday, April 9th. Deutsche Bank assumed coverage on Altria in a research report on Monday, March 26th. They set a “buy” rating and a $72.00 price target for the company. Jefferies Group reissued a “buy” rating and set a $84.00 price target on shares of Altria in a research report on Thursday, March 15th. Finally, Argus reissued a “buy” rating and set a $79.00 price target (up from $66.13) on shares of Altria in a research report on Wednesday, March 14th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $73.42.
In other Altria news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.34, for a total value of $199,488.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Newman acquired 5,345 shares of the company’s stock in a transaction on Monday, April 30th. The stock was acquired at an average price of $56.19 per share, for a total transaction of $300,335.55. Following the purchase, the director now directly owns 6,022 shares of the company’s stock, valued at $338,376.18. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.
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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