Traders Purchase High Volume of Put Options on Altria Group (MO)
Altria Group (NYSE:MO) was the target of some unusual options trading activity on Tuesday. Investors purchased 14,793 put options on the company, AmericanBankingNews.com reports. This is an increase of 135% compared to the average volume of 6,306 put options.
MO has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Altria Group in a research note to investors on Tuesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Altria Group currently has a consensus rating of “Buy” and an average price target of $39.63.
Altria Group (NYSE:MO) traded up 0.05% on Tuesday, hitting $36.85. The stock had a trading volume of 8,115,409 shares. Altria Group has a one year low of $33.12 and a one year high of $38.58. The stock’s 50-day moving average is $37.53 and its 200-day moving average is $36.23. The company has a market cap of $73.626 billion and a price-to-earnings ratio of 14.37.
Altria Group, Inc is a holding company. At December 31, 2012, Altria Group, Inc’s direct and indirect wholly owned subsidiaries included Philip Morris USA Inc (NYSE:MO), which is engaged in the manufacture and sale of cigarettes and certain smokeless products in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and is a wholly owned subsidiary of PM USA; and UST LLC (UST), which through its direct and indirect wholly owned subsidiaries, including U.
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