Jaffetilchin Investment Partners LLC Raises Stake in Altria Group, Inc. (NYSE:MO)

by · The Cerbat Gem

Jaffetilchin Investment Partners LLC boosted its holdings in Altria Group, Inc. (NYSE:MO – Free Report) by 42.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 23,850 shares of the company’s stock after buying an additional 7,142 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Altria Group were worth $1,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MO. MFA Wealth Advisors LLC acquired a new position in shares of Altria Group during the second quarter worth $27,000. Hobbs Group Advisors LLC purchased a new position in Altria Group in the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. grew its stake 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 acquiring an additional 260 shares in the last quarter. Fairman Group LLC increased its position in shares of Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Altria Group in the second quarter worth about $44,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MO shares. Stifel Nicolaus increased their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup boosted their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Finally, UBS Group increased their price objective on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.33.

View Our Latest Research Report on MO

Altria Group Trading Down 0.2 %

Shares of Altria Group stock opened at $53.94 on Tuesday. The company has a market cap of $91.42 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 3.07 and a beta of 0.64. The company’s fifty day simple moving average is $51.50 and its 200-day simple moving average is $48.90. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $55.05.

Altria Group (NYSE:MO – Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.56%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is 68.92%.

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.

See Also

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