Callan Capital LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,255 shares of the company’s stock, valued at approximately $212,000.
Several other institutional investors also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in shares of Altria Group during the 3rd quarter valued at about $26,000. Nemes Rush Group LLC lifted its holdings in shares of Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares in the last quarter. ZRC Wealth Management LLC lifted its holdings in shares of Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Altria Group during the 4th quarter valued at about $27,000. Finally, Financial Gravity Asset Management Inc. lifted its holdings in shares of Altria Group by 1,800.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after purchasing an additional 666 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.
Altria Group Trading Down 0.4 %
Shares of Altria Group stock traded down $0.16 on Friday, reaching $43.38. 13,794,252 shares of the company were exchanged, compared to its average volume of 11,969,122. Altria Group, Inc. has a one year low of $39.06 and a one year high of $48.04. The company has a market capitalization of $74.51 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.61 and a beta of 0.65. The company has a 50-day moving average of $42.18 and a 200 day moving average of $41.47.
Altria Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 9.04%. The ex-dividend date is Friday, March 22nd. Altria Group’s payout ratio is presently 82.01%.
Altria Group declared that its board has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. UBS Group boosted their target price on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.90.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.
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