Traynor Capital Management Inc. Raises Stake in Altria Group, Inc. (NYSE:MO)

by · The Cerbat Gem

Traynor Capital Management Inc. grew its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 2.9% in the third quarter, Holdings Channel reports. The firm owned 22,979 shares of the company’s stock after acquiring an additional 657 shares during the period. Traynor Capital Management Inc.’s holdings in Altria Group were worth $1,173,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BNP Paribas purchased a new stake in Altria Group in the first quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Altria Group during the second quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of Altria Group during the second quarter valued at about $30,000. Valley Wealth Managers Inc. lifted its position in shares of Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after buying an additional 260 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Altria Group during the second quarter valued at about $44,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

Shares of NYSE:MO opened at $50.27 on Tuesday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $54.95. The firm has a market capitalization of $86.35 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. The business’s 50 day moving average price is $51.40 and its 200-day moving average price is $48.17.

Altria Group (NYSE:MO – Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the business earned $1.31 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 85.36%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MO. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. UBS Group increased their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Stifel Nicolaus increased their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America dropped their price objective on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, Barclays raised their price objective on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.20.

Get Our Latest Research Report on MO

Altria Group 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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