Private Wealth Advisors Inc. increased its position in Altria Group Inc (NYSE:MO) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 42,229 shares of the company’s stock after buying an additional 1,678 shares during the quarter. Private Wealth Advisors Inc.’s holdings in Altria Group were worth $2,000,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MO. Country Trust Bank boosted its stake in Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the last quarter. HMS Capital Management LLC bought a new position in Altria Group during the 2nd quarter valued at $41,000. James Investment Research Inc. bought a new position in Altria Group during the 1st quarter valued at $43,000. Creative Financial Designs Inc. ADV boosted its stake in Altria Group by 113.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock valued at $45,000 after acquiring an additional 416 shares during the last quarter. Finally, Interactive Financial Advisors boosted its stake in Altria Group by 166.7% during the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 62.72% of the company’s stock.
Shares of NYSE:MO traded down $1.84 on Tuesday, reaching $45.28. 47,528,577 shares of the company’s stock were exchanged, compared to its average volume of 8,334,767. The firm has a market capitalization of $86.70 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.45 and a beta of 0.38. Altria Group Inc has a fifty-two week low of $42.40 and a fifty-two week high of $66.04. The business’s 50-day moving average is $48.03 and its two-hundred day moving average is $51.37. The company has a quick ratio of 0.28, a current ratio of 0.56 and a debt-to-equity ratio of 1.87.
Altria Group announced that its board has authorized a share buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s dividend payout ratio (DPR) is 80.20%.
A number of research analysts have commented on MO shares. ValuEngine downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Wells Fargo & Co reiterated a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. Goldman Sachs Group downgraded shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price objective on the stock. in a research note on Friday, July 12th. Morgan Stanley upgraded shares of Altria Group from an “underweight” rating to an “equal weight” rating and set a $44.00 price objective on the stock in a research note on Friday. Finally, Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Altria Group has an average rating of “Hold” and an average target price of $60.74.
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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