Parametric Portfolio Associates LLC Boosts Stock Position in Altria Group Inc (NYSE:MO)
Parametric Portfolio Associates LLC boosted its stake in shares of Altria Group Inc (NYSE:MO) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,995,930 shares of the company’s stock after buying an additional 50,578 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.27% of Altria Group worth $236,557,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. James Investment Research Inc. purchased a new stake in shares of Altria Group during the first quarter valued at $43,000. Creative Financial Designs Inc. ADV boosted its holdings 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 valued at $45,000 after acquiring an additional 416 shares during the last quarter. Interactive Financial Advisors boosted its holdings in shares of Altria Group by 166.7% during the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the last quarter. HMS Capital Management LLC bought a new stake in shares of Altria Group in the second quarter worth approximately $41,000. Finally, Titan Capital Management LLC CA bought a new stake in shares of Altria Group in the second quarter worth approximately $44,000. Institutional investors and hedge funds own 63.41% of the company’s stock.
Shares of NYSE:MO traded up $0.20 during trading on Wednesday, hitting $44.44. The company’s stock had a trading volume of 12,246,483 shares, compared to its average volume of 11,609,659. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. The firm has a market cap of $82.27 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.38 and a beta of 0.38. The company has a 50-day moving average of $46.40 and a 200-day moving average of $51.00. Altria Group Inc has a 12 month low of $42.40 and a 12 month high of $66.04.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s dividend payout ratio (DPR) is currently 80.20%.
Altria Group announced that its board has approved a stock repurchase 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 often a sign that the company’s board of directors believes its stock is undervalued.
MO has been the topic of a number of research analyst reports. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a research report on Monday, August 26th. ValuEngine downgraded shares of Altria Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Piper Jaffray Companies lowered shares of Altria Group from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $64.00 to $49.00 in a research note on Monday. Goldman Sachs Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research note on Friday, July 12th. Finally, Royal Bank of Canada set a $68.00 price target on Altria Group and gave the company a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average price target of $58.57.
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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