Quadrant Capital Group LLC Increases Stock Position in Altria Group, Inc. $MO
Quadrant Capital Group LLC increased its stake in Altria Group, Inc. by 34.9% in Q2, owning 35,161 shares valued at $2,062,000. Other institutional investors also adjusted their positions. Analysts have mixed ratings on Altria, with a consensus "Hold" rating and a target price of $62.33. Altria's Q3 earnings slightly exceeded expectations, and the company announced a $2 billion stock buyback program, indicating potential undervaluation of its shares.
Quadrant Capital Group LLC lifted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 34.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,161 shares of the company's stock after purchasing an additional 9,094 shares during the period. Quadrant Capital Group LLC's holdings in Altria Group were worth $2,062,000 at the end of the most recent quarter.
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Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company's stock worth $9,364,216,000 after buying an additional 1,599,923 shares during the last quarter. TigerOak Management L.L.C. grew its position in shares of Altria Group by 43.0% during the 2nd quarter. TigerOak Management L.L.C. now owns 13,005 shares of the company's stock valued at $762,000 after acquiring an additional 3,908 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Altria Group during the 2nd quarter worth approximately $126,471,000. Central Valley Advisors LLC bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $1,715,000. Finally, Invst LLC raised its holdings in shares of Altria Group by 252.0% in the 1st quarter. Invst LLC now owns 16,188 shares of the company's stock worth $972,000 after purchasing an additional 11,589 shares during the period. 57.41% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on MO. Barclays increased their price objective on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Bank of America upped their price target on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Altria Group in a report on Wednesday, October 8th. Stifel Nicolaus set a $72.00 price objective on Altria Group in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group increased their target price on shares of Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $62.33.
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Check Out Our Latest Stock Analysis on Altria Group
Altria Group Trading Up 0.7%
Shares of NYSE:MO opened at $58.76 on Friday. The company has a 50 day moving average of $61.98 and a 200 day moving average of $61.74. The stock has a market cap of $98.63 billion, a P/E ratio of 11.36, a P/E/G ratio of 3.45 and a beta of 0.51. Altria Group, Inc. has a 12 month low of $50.08 and a 12 month high of $68.60.
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Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.31 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.
Altria Group declared that its board has approved a stock buyback program on Thursday, October 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
Altria Group Company Profile
(Free Report)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.
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