Valley Brook Capital Group purchased a new stake in Altria Group, Inc. (NYSE:MO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,483 shares of the company’s stock, valued at approximately $60,000.
A number of other institutional investors have also added to or reduced their stakes in MO. Investment Management Associates Inc. ADV purchased a new position in shares of Altria Group in the fourth quarter worth about $7,209,000. DekaBank Deutsche Girozentrale raised its stake in shares of Altria Group by 33.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 257,729 shares of the company’s stock worth $10,570,000 after purchasing an additional 65,011 shares during the last quarter. swisspartners Ltd. purchased a new position in shares of Altria Group in the fourth quarter worth about $249,000. SOA Wealth Advisors LLC. purchased a new position in shares of Altria Group in the fourth quarter worth about $87,000. Finally, TRU Independence Asset Management 2 LLC purchased a new position in shares of Altria Group in the fourth quarter worth about $25,000. Institutional investors own 62.18% of the company’s stock.
Shares of MO opened at $51.13 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 8.59. Altria Group, Inc. has a 12 month low of $35.02 and a 12 month high of $52.59. The stock’s 50 day moving average is $47.87 and its two-hundred day moving average is $42.40. The firm has a market cap of $95.03 billion, a P/E ratio of 142.03, a PEG ratio of 2.25 and a beta of 0.54.
The company also recently declared 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. This represents a $3.44 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Wednesday, March 24th. Altria Group’s dividend payout ratio is presently 81.52%.
Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, January 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on Altria Group in a research note on Tuesday, January 19th. They issued an “outperform” rating and a $53.00 price objective for the company. TheStreet upgraded Altria Group from a “c” rating to a “b-” rating in a research note on Thursday, January 28th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and set a $46.00 target price on shares of Altria Group in a report on Monday, March 22nd. Jefferies Financial Group raised Altria Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.00 to $58.00 in a report on Thursday, April 1st. Finally, UBS Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Tuesday, March 16th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.90.
Altria Group 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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