Traynor Capital Management Inc. grew its stake in shares of Altria Group Inc (NYSE:MO) by 14.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,264 shares of the company’s stock after purchasing an additional 7,512 shares during the quarter. Altria Group makes up approximately 1.8% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Traynor Capital Management Inc.’s holdings in Altria Group were worth $3,737,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of MO. Sterling Investment Advisors Ltd. raised its holdings in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares in the last quarter. Solaris Asset Management LLC raised its holdings in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after purchasing an additional 557 shares in the last quarter. CKW Financial Group bought a new position in Altria Group in the second quarter worth about $109,000. Balentine LLC raised its holdings in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares in the last quarter. Finally, INR Advisory Services LLC bought a new position in Altria Group in the second quarter worth about $134,000. 62.64% of the stock is owned by hedge funds and other institutional investors.
Altria Group Inc (NYSE:MO) opened at $70.29 on Friday. Altria Group Inc has a fifty-two week low of $60.01 and a fifty-two week high of $77.79. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. The stock has a market cap of $134,130.00, a PE ratio of 8.79, a PEG ratio of 2.65 and a beta of 0.62.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the company earned $0.82 EPS. Altria Group’s quarterly revenue was down 1.8% on a year-over-year basis. sell-side analysts forecast that Altria Group Inc will post 3.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were issued a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 annualized dividend and a yield of 3.76%. Altria Group’s dividend payout ratio (DPR) is presently 33.00%.
A number of equities analysts have commented on MO shares. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 target price on shares of Altria Group in a report on Friday, October 27th. Vetr upgraded shares of 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. Berenberg Bank upgraded shares of Altria Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.01 to $71.00 in a report on Tuesday, December 19th. Finally, UBS Group cut their price objective on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Altria Group has an average rating of “Hold” and an average price target of $72.87.
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Altria Group Company Profile
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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