Doheny Asset Management CA Has $917,000 Stake in Altria Group Inc (MO)
Doheny Asset Management CA lessened its position in Altria Group Inc (NYSE:MO) by 16.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,848 shares of the company’s stock after selling 2,487 shares during the period. Doheny Asset Management CA’s holdings in Altria Group were worth $917,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Vanguard Group Inc. lifted its position in Altria Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock valued at $10,129,659,000 after purchasing an additional 2,690,270 shares during the period. BlackRock Inc. lifted its position in Altria Group by 0.8% during the fourth quarter. BlackRock Inc. now owns 135,404,376 shares of the company’s stock valued at $9,669,229,000 after purchasing an additional 1,140,353 shares during the period. Capital World Investors lifted its position in Altria Group by 27.6% during the second quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock valued at $3,065,018,000 after purchasing an additional 8,914,575 shares during the period. Bank of New York Mellon Corp lifted its position in Altria Group by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock valued at $1,393,372,000 after purchasing an additional 1,561,120 shares during the period. Finally, Geode Capital Management LLC lifted its position in Altria Group by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 21,709,187 shares of the company’s stock valued at $1,547,228,000 after purchasing an additional 629,732 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.
Shares of MO stock opened at $64.25 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.31. The company has a market cap of $121,533.71, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62. Altria Group Inc has a 12 month low of $59.07 and a 12 month high of $77.79.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th were paid a $0.70 dividend. The ex-dividend date was Wednesday, March 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.36%. Altria Group’s dividend payout ratio is 82.84%.
Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages recently weighed in on MO. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down previously from $65.00) on shares of Altria Group in a research report on Monday, February 5th. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price objective on the stock in a research report on Monday, February 5th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Tuesday, February 6th. Argus reaffirmed a “buy” rating and set a $79.00 target price (up from $66.13) on shares of Altria Group in a report on Wednesday, March 14th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $84.00 target price on shares of Altria Group in a report on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $74.53.
In other news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $62.34, for a total value of $199,488.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $63.13, for a total transaction of $410,345.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,117 shares of company stock valued at $1,821,707. Corporate insiders own 0.11% of the company’s stock.
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About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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