GAMMA Investing LLC purchased a new stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,220 shares of the company’s stock, valued at approximately $330,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Altria Group in the third quarter worth about $26,000. Nemes Rush Group LLC grew its holdings in Altria Group by 103.2% in the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after purchasing an additional 323 shares during the period. ZRC Wealth Management LLC grew its holdings in Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of Altria Group during the fourth quarter valued at approximately $27,000. Finally, Financial Gravity Asset Management Inc. grew its holdings in shares of Altria Group by 1,800.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after buying an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.
Altria Group Stock Up 0.1 %
Shares of Altria Group stock opened at $42.92 on Thursday. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $48.04. The company has a market cap of $73.72 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 2.57 and a beta of 0.65. The company’s 50 day moving average is $42.05 and its 200 day moving average is $41.45.
Altria Group declared that its board has authorized a stock buyback program on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Altria Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be given a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.13%. Altria Group’s payout ratio is presently 85.78%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, UBS Group increased their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.90.
Get Our Latest Research Report on Altria Group
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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