BBVA USA Bancshares Inc. increased its stake in Altria Group Inc (NYSE:MO) by 174.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,487 shares of the company’s stock after purchasing an additional 40,992 shares during the period. BBVA USA Bancshares Inc.’s holdings in Altria Group were worth $2,637,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in MO. Nuveen Asset Management LLC lifted its holdings in shares of Altria Group by 584.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,679,362 shares of the company’s stock worth $410,968,000 after purchasing an additional 7,411,523 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Altria Group by 74.0% in the 2nd quarter. AQR Capital Management LLC now owns 4,727,202 shares of the company’s stock worth $223,833,000 after purchasing an additional 2,010,023 shares during the last quarter. Natixis lifted its holdings in shares of Altria Group by 428.3% in the 2nd quarter. Natixis now owns 1,846,808 shares of the company’s stock worth $87,447,000 after purchasing an additional 1,497,259 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Altria Group by 73.2% in the 2nd quarter. Toronto Dominion Bank now owns 2,428,023 shares of the company’s stock worth $114,938,000 after purchasing an additional 1,026,362 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Altria Group by 11.0% in the 2nd quarter. Morgan Stanley now owns 8,811,852 shares of the company’s stock worth $417,241,000 after purchasing an additional 870,944 shares during the last quarter. 63.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Altria Group stock opened at $46.41 on Tuesday. The business’s fifty day moving average price is $43.64 and its two-hundred day moving average price is $47.44. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.56 and a quick ratio of 0.27. The company has a market capitalization of $86.40 billion, a P/E ratio of 11.63, a PEG ratio of 1.72 and a beta of 0.41. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $62.94.
Altria Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several analysts recently issued reports on MO shares. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus reissued a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. Morgan Stanley set a $44.00 price target on Altria Group and gave the stock a “hold” rating in a report on Tuesday, September 24th. Barclays set a $50.00 price target on Altria Group and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Cowen reissued a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $54.35.
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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