Swiss National Bank boosted its position in shares of Altria Group Inc (NYSE:MO) by 0.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,273,394 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Altria Group makes up 0.6% of Swiss National Bank’s holdings, making the stock its 29th biggest holding. Swiss National Bank owned 0.43% of Altria Group worth $590,803,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Balentine LLC raised its stake in shares of Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after acquiring an additional 357 shares during the period. Oak Point Wealth Management purchased a new stake in shares of Altria Group in the 4th quarter valued at approximately $120,000. INR Advisory Services LLC purchased a new stake in shares of Altria Group in the 2nd quarter valued at approximately $134,000. Quantum Capital Management LLC NJ purchased a new stake in shares of Altria Group in the 3rd quarter valued at approximately $114,000. Finally, Northwest Investment Counselors LLC raised its stake in shares of Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after acquiring an additional 1,543 shares during the period. 62.77% of the stock is currently owned by institutional investors.
Shares of Altria Group Inc (NYSE MO) opened at $66.13 on Wednesday. Altria Group Inc has a 52 week low of $60.01 and a 52 week high of $77.79. The firm has a market cap of $125,680.00, a P/E ratio of 18.58, a P/E/G ratio of 1.91 and a beta of 0.63. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85.
Altria Group declared that its board has approved a stock repurchase program on Thursday, February 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.23%. The ex-dividend date is Wednesday, March 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.66. Altria Group’s payout ratio is 74.16%.
In other Altria Group news, CEO Brian W. Quigley sold 3,464 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $62.40, for a total transaction of $216,153.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.34, for a total transaction of $199,488.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,117 shares of company stock valued at $1,821,707 in the last quarter. 0.11% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on MO shares. Jefferies Group set a $72.00 price target on shares of Altria Group and gave the company a “hold” rating in a research note on Friday, November 17th. Vetr downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $71.65 target price on the stock. in a research note on Monday, December 4th. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $60.01 to $71.00 in a research note on Tuesday, December 19th. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Wells Fargo & Co upped their target price on shares of Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $73.66.
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About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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