Prime Capital Investment Advisors LLC lessened its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,656 shares of the company’s stock after selling 4,121 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Altria Group were worth $1,457,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Loomis Sayles & Co. L P purchased a new position in shares of Altria Group in the 1st quarter worth approximately $25,000. WFA of San Diego LLC purchased a new position in shares of Altria Group in the 2nd quarter worth approximately $30,000. Legacy Financial Group LLC purchased a new position in shares of Altria Group in the 3rd quarter worth approximately $30,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Altria Group in the 3rd quarter worth approximately $31,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Altria Group in the 3rd quarter worth approximately $32,000. Institutional investors own 58.94% of the company’s stock.
Altria Group Stock Up 0.0 %
Shares of NYSE MO opened at $40.11 on Monday. The business has a fifty day simple moving average of $40.99 and a two-hundred day simple moving average of $42.00. The firm has a market cap of $70.94 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 2.41 and a beta of 0.66. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $48.11.
Altria Group declared that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Altria Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 9.77%. The ex-dividend date was Wednesday, December 20th. Altria Group’s payout ratio is 85.78%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on MO shares. Citigroup decreased their price target on Altria Group from $46.50 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, October 18th. UBS Group reissued a “sell” rating and set a $36.10 price target on shares of Altria Group in a research note on Tuesday, January 23rd. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.22.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.
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