WealthPLAN Partners LLC Raises Holdings in Altria Group, Inc. (NYSE:MO)


Share on StockTwits

WealthPLAN Partners LLC lifted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,462 shares of the company’s stock after purchasing an additional 15,744 shares during the period. WealthPLAN Partners LLC’s holdings in Altria Group were worth $9,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund grew its stake in Altria Group by 19.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 696,534 shares of the company’s stock worth $28,558,000 after acquiring an additional 112,478 shares during the period. Princeton Global Asset Management LLC grew its stake in Altria Group by 18.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 21,321 shares of the company’s stock worth $874,000 after acquiring an additional 3,273 shares during the period. SeaCrest Wealth Management LLC grew its stake in Altria Group by 1.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 58,105 shares of the company’s stock worth $2,382,000 after acquiring an additional 768 shares during the period. CI Investments Inc. grew its stake in Altria Group by 193.2% in the 4th quarter. CI Investments Inc. now owns 191,256 shares of the company’s stock worth $7,841,000 after acquiring an additional 126,029 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Altria Group by 4.6% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 534,755 shares of the company’s stock worth $21,925,000 after acquiring an additional 23,598 shares during the period. 62.18% of the stock is owned by institutional investors and hedge funds.

MO stock traded down $0.27 during trading on Tuesday, reaching $44.15. The stock had a trading volume of 392,378 shares, 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 current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 8.59. The company has a market capitalization of $82.05 billion, a P/E ratio of 123.39, a PEG ratio of 2.25 and a beta of 0.54. The firm has a fifty day moving average price of $42.12 and a 200 day moving average price of $41.22.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, January 27th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.03). Altria Group had a return on equity of 148.93% and a net margin of 2.84%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.95 billion. During the same quarter last year, the company posted $1.02 EPS. Altria Group’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts predict that Altria Group, Inc. will post 4.37 EPS for the current year.

Altria Group declared that its board has approved a stock repurchase program on Thursday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Several analysts have commented on MO shares. 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. Royal Bank of Canada reaffirmed a “buy” rating on shares of Altria Group in a research note on Sunday, January 31st. Piper Sandler boosted their price objective on shares of Altria Group from $47.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, December 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, January 22nd. Finally, TheStreet raised shares of Altria Group from a “c” rating to a “b-” rating in a research note on Thursday, January 28th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Altria Group has an average rating of “Buy” and an average target price 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.

See Also: Quiet Period Expirations

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO).

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.