WealthPLAN Partners LLC Boosts Stock Position in Altria Group, Inc. (NYSE:MO)
WealthPLAN Partners LLC grew its position in shares of Altria Group, Inc. (NYSE:MO) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 219,462 shares of the company’s stock after purchasing an additional 15,744 shares during the quarter. WealthPLAN Partners LLC’s holdings in Altria Group were worth $9,333,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MO. FIL Ltd grew its holdings in shares of Altria Group by 720.2% during the fourth quarter. FIL Ltd now owns 5,197,069 shares of the company’s stock worth $213,080,000 after purchasing an additional 4,563,420 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Altria Group by 143.4% during the fourth quarter. Principal Financial Group Inc. now owns 6,483,170 shares of the company’s stock worth $265,810,000 after purchasing an additional 3,819,777 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Altria Group during the third quarter worth about $73,863,000. Natixis grew its holdings in shares of Altria Group by 445.2% during the third quarter. Natixis now owns 1,995,719 shares of the company’s stock worth $77,114,000 after purchasing an additional 1,629,652 shares during the last quarter. Finally, Railway Pension Investments Ltd grew its holdings in shares of Altria Group by 2,573.4% during the fourth quarter. Railway Pension Investments Ltd now owns 973,100 shares of the company’s stock worth $39,897,000 after purchasing an additional 936,700 shares during the last quarter. 62.18% of the stock is currently owned by institutional investors.
Shares of NYSE MO traded down $0.27 during trading on Tuesday, hitting $44.15. 392,378 shares of the company traded hands, compared to its average volume of 7,797,504. Altria Group, Inc. has a 1 year low of $30.95 and a 1 year high of $45.69. The company has a 50-day moving average price of $42.12 and a 200-day moving average price of $41.22. The firm has a market capitalization of $82.05 billion, a P/E ratio of 123.39, a P/E/G ratio of 2.25 and a beta of 0.54. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 8.59.
Altria Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Altria Group from a “c” rating to a “b-” rating in a research report on Thursday, January 28th. Royal Bank of Canada reissued a “buy” rating on shares of Altria Group in a research note on Sunday, January 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Altria Group from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, January 22nd. Piper Sandler lifted their target price on shares of Altria Group from $47.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, December 11th. Finally, Sanford C. Bernstein started coverage on shares of Altria Group in a research note on Tuesday, January 19th. They issued an “outperform” rating and a $53.00 target price for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.00.
Altria Group Profile
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, as well as provides on! oral nicotine pouches.
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