QRG Capital Management Inc. Raises Stock Holdings in Altria Group, Inc. (NYSE:MO)

QRG Capital Management Inc. boosted its holdings in Altria Group, Inc. (NYSE:MO) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 691,083 shares of the company’s stock after purchasing an additional 47,279 shares during the period. QRG Capital Management Inc.’s holdings in Altria Group were worth $36,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Altria Group in the fourth quarter valued at about $25,000. True Wealth Design LLC boosted its holdings in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. Marshall Investment Management LLC purchased a new position in Altria Group in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in Altria Group in the third quarter valued at about $34,000. Finally, Kestra Investment Management LLC bought a new position in Altria Group during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MO. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley reduced their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus increased their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays increased their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Down 2.0 %

Shares of NYSE MO opened at $54.86 on Thursday. The company has a market cap of $92.98 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The stock’s 50 day simple moving average is $52.69 and its 200 day simple moving average is $52.83.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.44%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio is currently 62.29%.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.