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One consumer goods player that insiders are loading up on here is
Altria Group (
MO), which manufactures and sells cigarettes, other tobacco products, machine-made large cigars and pipe tobacco. Insiders are buying this stock into decent strength, since shares are up by 16% so far in 2013.
Altria Group has a market cap of $73 billion and an enterprise value of $84 billion. This stock trades at a fair valuation, with a trailing price-to-earnings of 16.90 and a forward price-to-earnings of 14.21. Its estimated growth rate for this year is 8.6%, and for next year it's pegged at 7.1%. This is not a cash-rich company, since the total cash position on its balance sheet is $3.78 billion and its total debt is $13.88 billion. This stock sports a dividend yield of 4.7%.
>>4 Huge Stocks Ripe for a Sharp Pullback
A director just
bought 26,700 shares, or about $988,000 worth of stock, at $37.04 per share.
From a technical perspective, MO is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $30.54 to its recent high of $37.61 a share. During that uptrend, shares of MO have been consistently making higher lows and higher highs, which is bullish technical price action. That said, shares of MO recently ran into stiff resistance at $37.53 to $37.61 a share.
If you're bullish on MO, then look for long-biased trades as long as this stock is trending above its 50-day at $35.75 and then once it breaks out above some near-term overhead resistance levels at $37.53 to $37.61 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 10.09 million shares. If that breakout triggers soon, then AIG will set up to enter new 52-week-high territory above $37.61, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $43 a share.