Telemus Capital LLC cut its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,017 shares of the company’s stock after selling 587 shares during the period. Telemus Capital LLC’s holdings in Altria Group were worth $444,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in shares of Altria Group during the third quarter worth approximately $26,000. Nemes Rush Group LLC increased its stake in shares of Altria Group by 103.2% during the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of Altria Group during the fourth quarter worth approximately $27,000. ZRC Wealth Management LLC increased its stake in shares of Altria Group by 67.6% during the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the period. Finally, Legacy Financial Group LLC purchased a new stake in shares of Altria Group during the third quarter worth approximately $30,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group Price Performance
Shares of NYSE MO opened at $42.57 on Tuesday. The stock has a fifty day moving average price of $41.95 and a 200 day moving average price of $41.43. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $48.04. The company has a market cap of $73.12 billion, a PE ratio of 9.32, a P/E/G ratio of 2.53 and a beta of 0.65.
Altria Group announced that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Altria Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 9.21%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio is presently 85.78%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on MO shares. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a report on Monday, March 25th. Finally, UBS Group increased their price objective on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.90.
View Our Latest Stock Analysis on MO
Altria Group Profile
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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