Plimoth Trust Co. LLC Has $2.05 Million Holdings in Altria Group Inc (NYSE:MO)
Plimoth Trust Co. LLC lessened its stake in Altria Group Inc (NYSE:MO) by 0.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,228 shares of the company’s stock after selling 246 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Altria Group were worth $2,047,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Sfmg LLC lifted its holdings in Altria Group by 21.7% during the 2nd quarter. Sfmg LLC now owns 12,475 shares of the company’s stock valued at $622,000 after purchasing an additional 2,223 shares during the last quarter. Lakeview Capital Partners LLC lifted its holdings in Altria Group by 5.8% during the 2nd quarter. Lakeview Capital Partners LLC now owns 12,951 shares of the company’s stock valued at $613,000 after purchasing an additional 709 shares during the last quarter. Greenline Partners LLC lifted its holdings in Altria Group by 467.3% during the 2nd quarter. Greenline Partners LLC now owns 54,545 shares of the company’s stock valued at $2,583,000 after purchasing an additional 44,930 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Altria Group by 51.5% during the second quarter. Pinnacle Associates Ltd. now owns 111,604 shares of the company’s stock worth $5,284,000 after buying an additional 37,962 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Altria Group by 2,254.2% during the second quarter. Meeder Asset Management Inc. now owns 1,389 shares of the company’s stock worth $66,000 after buying an additional 1,330 shares in the last quarter. 62.72% of the stock is owned by institutional investors.
Shares of NYSE MO traded down $0.52 during mid-day trading on Tuesday, reaching $46.18. The company had a trading volume of 2,274,252 shares, compared to its average volume of 7,961,507. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56. Altria Group Inc has a one year low of $42.40 and a one year high of $66.04. The firm has a market cap of $86.83 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.46 and a beta of 0.38. The business’s 50-day simple moving average is $48.33 and its 200 day simple moving average is $51.46.
Altria Group declared that its Board of Directors has approved a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on the company. Citigroup set a $45.00 target price on Altria Group and gave the stock a “sell” rating in a report on Friday, April 26th. Royal Bank of Canada set a $68.00 target price on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a report on Friday, August 9th. Morgan Stanley dropped their target price on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Finally, Goldman Sachs Group downgraded Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Altria Group currently has an average rating of “Hold” and a consensus target price of $60.74.
Altria Group Company 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.
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