Oregon Public Employees Retirement Fund raised its position in Altria Group, Inc. (NYSE:MO) by 19.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 696,534 shares of the company’s stock after buying an additional 112,478 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Altria Group were worth $28,558,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MO. FIL Ltd raised its stake in shares of Altria Group by 720.2% during the 4th quarter. FIL Ltd now owns 5,197,069 shares of the company’s stock valued at $213,080,000 after purchasing an additional 4,563,420 shares during the period. Principal Financial Group Inc. raised its stake in shares of Altria Group by 143.4% during the 4th quarter. Principal Financial Group Inc. now owns 6,483,170 shares of the company’s stock valued at $265,810,000 after purchasing an additional 3,819,777 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Altria Group during the 3rd quarter valued at $73,863,000. Natixis raised its stake in shares of Altria Group by 445.2% during the 3rd quarter. Natixis now owns 1,995,719 shares of the company’s stock valued at $77,114,000 after purchasing an additional 1,629,652 shares during the period. Finally, Railway Pension Investments Ltd raised its stake in shares of Altria Group by 2,573.4% during the 4th quarter. Railway Pension Investments Ltd now owns 973,100 shares of the company’s stock valued at $39,897,000 after purchasing an additional 936,700 shares during the period. Hedge funds and other institutional investors own 62.18% of the company’s stock.
Shares of NYSE MO traded down $0.23 during midday trading on Tuesday, reaching $44.19. The company had a trading volume of 255,586 shares, compared to its average volume of 7,797,504. Altria Group, Inc. has a one year low of $30.95 and a one year high of $45.69. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 8.59. The firm’s fifty day moving average price is $42.12 and its 200-day moving average price is $41.22. The stock has a market cap of $82.12 billion, a PE ratio of 123.39, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54.
Altria Group announced that its board has authorized a share repurchase plan on Thursday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several research firms recently commented on MO. Deutsche Bank Aktiengesellschaft boosted their target price on Altria Group from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. Piper Sandler boosted their target price on Altria Group from $47.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, December 11th. TheStreet upgraded Altria Group from a “c” rating to a “b-” rating in a research report on Thursday, January 28th. Royal Bank of Canada restated a “buy” rating on shares of Altria Group in a research report on Sunday, January 31st. Finally, Sanford C. Bernstein began coverage on Altria Group in a research report on Tuesday, January 19th. They set 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 company. The company has an average 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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