Traders Buy Altria Group (MO) on Weakness
Traders purchased shares of Altria Group Inc (NYSE:MO) on weakness during trading hours on Thursday. $187.37 million flowed into the stock on the tick-up and $162.15 million flowed out of the stock on the tick-down, for a money net flow of $25.22 million into the stock. Of all equities tracked, Altria Group had the 20th highest net in-flow for the day. Altria Group traded down ($1.82) for the day and closed at $57.28
MO has been the subject of several research reports. ValuEngine cut Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Piper Jaffray Companies set a $75.00 price target on Altria Group and gave the stock a “buy” rating in a research report on Monday, July 23rd. Jefferies Financial Group cut Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research report on Friday, August 24th. Finally, Argus boosted their price target on Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $69.87.
The company has a debt-to-equity ratio of 0.77, a current ratio of 0.60 and a quick ratio of 0.36. The firm has a market cap of $115.00 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.74 and a beta of 0.40.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Regentatlantic Capital LLC lifted its stake in Altria Group by 15.9% during the 3rd quarter. Regentatlantic Capital LLC now owns 36,272 shares of the company’s stock worth $2,188,000 after acquiring an additional 4,974 shares in the last quarter. Fort Pitt Capital Group LLC lifted its stake in Altria Group by 11.6% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 20,502 shares of the company’s stock worth $1,236,000 after acquiring an additional 2,139 shares in the last quarter. Exeter Financial LLC lifted its stake in Altria Group by 8.7% during the 2nd quarter. Exeter Financial LLC now owns 20,414 shares of the company’s stock worth $1,159,000 after acquiring an additional 1,638 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Altria Group during the 2nd quarter worth about $20,143,000. Finally, Independence Bank of Kentucky lifted its stake in Altria Group by 13.2% during the 2nd quarter. Independence Bank of Kentucky now owns 14,488 shares of the company’s stock worth $823,000 after acquiring an additional 1,685 shares in the last quarter. 63.37% of the stock is currently owned by institutional investors and hedge funds.
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Altria Group Company Profile (NYSE:MO)
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.
Read More: Leveraged Buyout (LBO)
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