Quadrant Capital Group LLC Raises Holdings in Altria Group Inc (MO)
Quadrant Capital Group LLC raised its stake in Altria Group Inc (NYSE:MO) by 61.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,857 shares of the company’s stock after purchasing an additional 3,754 shares during the period. Quadrant Capital Group LLC’s holdings in Altria Group were worth $548,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Country Trust Bank increased its position in shares of Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares in the last quarter. Litman Gregory Asset Management LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $30,000. Clean Yield Group acquired a new stake in Altria Group in the 4th quarter valued at about $32,000. Transamerica Financial Advisors Inc. increased its position in Altria Group by 627.6% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock valued at $36,000 after acquiring an additional 615 shares in the last quarter. Finally, James Investment Research Inc. acquired a new stake in Altria Group in the 1st quarter valued at about $43,000. 64.04% of the stock is owned by hedge funds and other institutional investors.
Altria Group stock opened at $52.81 on Friday. Altria Group Inc has a fifty-two week low of $42.40 and a fifty-two week high of $66.04. The company has a market cap of $97.04 billion, a P/E ratio of 13.24, a PEG ratio of 1.62 and a beta of 0.35. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.39 and a current ratio of 0.62.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 6.06%. The ex-dividend date is Thursday, June 13th. Altria Group’s payout ratio is 80.20%.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nabil Y. Sakkab purchased 1,352 shares of the business’s stock in a transaction on Monday, February 25th. The stock was bought at an average cost of $52.11 per share, for a total transaction of $70,452.72. Following the purchase, the director now owns 39,660 shares of the company’s stock, valued at approximately $2,066,682.60. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.
Several equities research analysts have weighed in on MO shares. TheStreet upgraded shares of Altria Group from a “c+” rating to a “b-” rating in a research report on Friday, March 29th. Morgan Stanley raised their price objective on shares of Altria Group from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. Citigroup set a $52.00 price objective on shares of Altria Group and gave the company a “sell” rating in a research report on Thursday, March 28th. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $62.53.
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About Altria Group
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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