Delta Capital Management LLC trimmed its stake in shares of Altria Group Inc (NYSE:MO) by 7.3% in the third quarter, Holdings Channel.com reports. The fund owned 41,335 shares of the company’s stock after selling 3,270 shares during the quarter. Delta Capital Management LLC’s holdings in Altria Group were worth $1,691,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. HMS Capital Management LLC bought a new position in shares of Altria Group during the second quarter worth about $41,000. Salomon & Ludwin LLC raised its position in shares of Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after acquiring an additional 567 shares during the last quarter. Titan Capital Management LLC CA bought a new position in shares of Altria Group during the second quarter worth about $44,000. Interactive Financial Advisors raised its position in shares of Altria Group by 166.7% during the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after acquiring an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co raised its position in shares of Altria Group by 214.0% during the second quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock worth $46,000 after acquiring an additional 659 shares during the last quarter. Institutional investors own 63.25% of the company’s stock.
NYSE MO traded up $0.05 during trading hours on Friday, hitting $43.03. 4,365,239 shares of the company’s stock were exchanged, compared to its average volume of 14,594,293. The stock has a 50-day simple moving average of $42.78 and a 200 day simple moving average of $49.09. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $66.04. The firm has a market cap of $78.46 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.56 and a beta of 0.40. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87.
Altria Group announced that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s dividend payout ratio (DPR) is 84.21%.
MO has been the subject of several recent analyst reports. Royal Bank of Canada set a $68.00 target price on Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley set a $44.00 target price on Altria Group and gave the stock a “hold” rating in a research note on Tuesday, September 24th. ValuEngine raised Altria Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group cut Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research note on Friday, July 12th. Finally, Piper Jaffray Companies set a $49.00 target price on Altria Group and gave the stock a “hold” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Altria Group has an average rating of “Hold” and a consensus target price of $57.53.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless 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.
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