Stephens Inc. AR Increases Stock Position in Altria Group Inc (NYSE:MO)
Stephens Inc. AR raised its holdings in Altria Group Inc (NYSE:MO) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,153 shares of the company’s stock after purchasing an additional 874 shares during the quarter. Stephens Inc. AR’s holdings in Altria Group were worth $15,159,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Country Trust Bank boosted its stake in shares of Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares in the last quarter. HMS Capital Management LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth approximately $41,000. James Investment Research Inc. purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $43,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Altria Group by 113.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock worth $45,000 after acquiring an additional 416 shares in the last quarter. Finally, Interactive Financial Advisors boosted its stake in shares of Altria Group by 166.7% during the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after acquiring an additional 500 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.
MO stock traded up $0.09 on Wednesday, reaching $46.07. The company had a trading volume of 1,695,285 shares, compared to its average volume of 9,687,593. Altria Group Inc has a 1 year low of $42.40 and a 1 year high of $66.04. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The firm’s fifty day moving average price is $48.51. The company has a market capitalization of $86.23 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.45 and a beta of 0.38.
Altria Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
MO has been the topic of several research analyst reports. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target on the stock. in a research note on Friday, July 12th. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. Citigroup set a $45.00 price target on Altria Group and gave the stock a “sell” rating in a research note on Friday, April 26th. Finally, ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Altria Group presently has a consensus rating of “Hold” and an average price target of $60.74.
In related news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
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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