Taylor Hoffman Wealth Management boosted its stake in Altria Group Inc (NYSE:MO) by 12.5% in the third quarter, HoldingsChannel reports. The firm owned 49,683 shares of the company’s stock after acquiring an additional 5,519 shares during the period. Altria Group accounts for about 1.4% of Taylor Hoffman Wealth Management’s holdings, making the stock its 17th biggest position. Taylor Hoffman Wealth Management’s holdings in Altria Group were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Julex Capital Management LLC acquired a new stake in shares of Altria Group during the 3rd quarter valued at $25,000. Vigilant Capital Management LLC boosted its holdings in shares of Altria Group by 140.3% during the third quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the period. KCS Wealth Advisory purchased a new stake in shares of Altria Group during the third quarter worth about $40,000. HMS Capital Management LLC purchased a new stake in shares of Altria Group during the second quarter worth about $41,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after purchasing an additional 567 shares during the period. Institutional investors and hedge funds own 63.27% of the company’s stock.
MO traded up $0.43 on Friday, hitting $46.41. The company had a trading volume of 5,522,956 shares, compared to its average volume of 10,315,709. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.56 and a quick ratio of 0.27. Altria Group Inc has a 52-week low of $39.30 and a 52-week high of $66.04. The stock has a fifty day simple moving average of $43.42 and a 200-day simple moving average of $47.52. The firm has a market capitalization of $86.40 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41.
Altria Group announced that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently weighed in on the stock. Barclays set a $50.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley set a $44.00 target price on shares of Altria Group and gave the stock a “hold” rating in a report on Tuesday, September 24th. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Altria Group presently has an average rating of “Hold” and an average price target of $54.35.
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.
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