Traders Buy Altria Group (MO) on Weakness
Investors bought shares of Altria Group Inc (NYSE:MO) on weakness during trading hours on Thursday. $187.37 million flowed into the stock on the tick-up and $162.15 million flowed out of the stock on the tick-down, for a money net flow of $25.22 million into the stock. Of all companies tracked, Altria Group had the 20th highest net in-flow for the day. Altria Group traded down ($1.82) for the day and closed at $57.28
Several brokerages have recently weighed in on MO. ValuEngine downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Co restated an “outperform” rating on shares of Altria Group in a research report on Monday, November 12th. Argus boosted their price objective on shares of Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, October 29th. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, Sanford C. Bernstein began coverage on shares of Altria Group in a research report on Tuesday, October 23rd. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.87.
The stock has a market cap of $111.05 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.68 and a beta of 0.40. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77.
In related news, Director Dinyar S. Devitre sold 3,165 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Altria Group by 1.8% in the 3rd quarter. BlackRock Inc. now owns 141,022,748 shares of the company’s stock valued at $8,505,083,000 after buying an additional 2,433,533 shares during the period. FMR LLC increased its stake in Altria Group by 10.3% in the 3rd quarter. FMR LLC now owns 41,106,747 shares of the company’s stock valued at $2,479,149,000 after buying an additional 3,842,889 shares during the period. Capital International Investors increased its stake in Altria Group by 698.6% in the 3rd quarter. Capital International Investors now owns 31,992,124 shares of the company’s stock valued at $1,929,445,000 after buying an additional 27,986,154 shares during the period. Bank of New York Mellon Corp increased its stake in Altria Group by 82,381.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,356,466 shares of the company’s stock valued at $1,348,318,000 after buying an additional 22,329,361 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Altria Group by 2.6% in the 2nd quarter. Janus Henderson Group PLC now owns 18,492,919 shares of the company’s stock valued at $1,050,215,000 after buying an additional 460,964 shares during the period. 63.37% of the stock is currently owned by institutional investors.
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Altria Group Company Profile (NYSE:MO)
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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