Checchi Capital Advisers LLC decreased its holdings in Altria Group Inc (NYSE:MO) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,005 shares of the company’s stock after selling 390 shares during the period. Checchi Capital Advisers LLC’s holdings in Altria Group were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. Natixis raised its holdings in shares of Altria Group by 428.3% in the second quarter. Natixis now owns 1,846,808 shares of the company’s stock valued at $87,447,000 after buying an additional 1,497,259 shares during the last quarter. Bowling Portfolio Management LLC acquired a new position in Altria Group during the second quarter worth about $2,502,000. OLD Republic International Corp grew its position in Altria Group by 15.5% during the second quarter. OLD Republic International Corp now owns 746,750 shares of the company’s stock worth $35,359,000 after buying an additional 100,000 shares during the period. Banco Santander S.A. grew its position in Altria Group by 3.0% during the second quarter. Banco Santander S.A. now owns 108,600 shares of the company’s stock worth $5,143,000 after buying an additional 3,163 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in Altria Group by 28.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 117,465 shares of the company’s stock worth $5,562,000 after buying an additional 26,294 shares during the period. Institutional investors and hedge funds own 63.26% of the company’s stock.
Shares of MO stock traded up $0.12 during trading hours on Wednesday, hitting $47.12. The company’s stock had a trading volume of 2,706,326 shares, compared to its average volume of 10,278,860. The business has a fifty day moving average of $43.76 and a 200-day moving average of $47.40. The stock has a market cap of $86.70 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.72 and a beta of 0.41. Altria Group Inc has a twelve month low of $39.30 and a twelve month high of $61.49. The company has a current ratio of 0.56, a quick ratio of 0.27 and a debt-to-equity ratio of 2.53.
Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
MO has been the topic of several recent analyst reports. Citigroup upped their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a research report on Monday, August 26th. Finally, Piper Jaffray Companies set a $49.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $54.35.
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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