Mechanics Bank Trust Department lowered its position in shares of Altria Group Inc (NYSE:MO) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,727 shares of the company’s stock after selling 3,179 shares during the quarter. Altria Group accounts for approximately 2.1% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 8th largest position. Mechanics Bank Trust Department’s holdings in Altria Group were worth $8,861,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Sterling Investment Advisors Ltd. lifted its holdings in shares of Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after purchasing an additional 800 shares during the last quarter. Solaris Asset Management LLC lifted its holdings in shares of Altria Group by 65.7% during the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after purchasing an additional 557 shares during the last quarter. CKW Financial Group purchased a new stake in shares of Altria Group during the second quarter valued at $109,000. Balentine LLC lifted its holdings in shares of Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares during the last quarter. Finally, INR Advisory Services LLC purchased a new stake in shares of Altria Group during the second quarter valued at $134,000. 62.64% of the stock is owned by institutional investors and hedge funds.
Shares of Altria Group Inc (NYSE:MO) opened at $72.43 on Thursday. Altria Group Inc has a one year low of $60.01 and a one year high of $77.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.77. The firm has a market capitalization of $138,210.00, a PE ratio of 9.05, a PEG ratio of 2.95 and a beta of 0.62.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, December 20th. Altria Group’s dividend payout ratio is 33.00%.
MO has been the subject of several analyst reports. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price for the company in a report on Tuesday, October 24th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, October 11th. Citigroup reduced their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Cowen raised Altria Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $64.00 to $71.00 in a research note on Tuesday, September 26th. Finally, Jefferies Group set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.57.
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About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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