Traynor Capital Management Inc. lowered its position in shares of Altria Group (NYSE:MO) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,559 shares of the company’s stock after selling 481 shares during the period. Traynor Capital Management Inc.’s holdings in Altria Group were worth $943,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Altria Group by 28.8% in the first quarter. Wellington Management Group LLP now owns 14,356,887 shares of the company’s stock worth $899,602,000 after buying an additional 3,207,663 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Altria Group during the second quarter worth approximately $170,990,000. Artemis Investment Management LLP increased its stake in shares of Altria Group by 335.8% in the second quarter. Artemis Investment Management LLP now owns 3,078,676 shares of the company’s stock worth $212,320,000 after buying an additional 2,372,165 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Altria Group by 14.4% in the first quarter. TIAA CREF Investment Management LLC now owns 11,433,664 shares of the company’s stock worth $716,433,000 after buying an additional 1,437,564 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Altria Group by 1.9% in the first quarter. State Street Corp now owns 72,465,487 shares of the company’s stock worth $4,540,692,000 after buying an additional 1,328,172 shares during the last quarter. 61.29% of the stock is owned by institutional investors.
Altria Group (NYSE:MO) traded up 0.24% during midday trading on Thursday, reaching $62.69. The company had a trading volume of 4,900,278 shares. The firm has a 50-day moving average price of $63.99 and a 200-day moving average price of $64.97. Altria Group has a 52 week low of $56.15 and a 52 week high of $70.15. The company has a market capitalization of $122.50 billion, a price-to-earnings ratio of 21.77 and a beta of 0.52.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business earned $6.52 billion during the quarter, compared to analyst estimates of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Analysts expect that Altria Group will post $3.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.61 per share. The ex-dividend date was Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 3.89%. Altria Group’s payout ratio is currently 84.72%.
MO has been the subject of a number of recent research reports. Credit Agricole SA decreased their target price on Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, September 15th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 target price for the company. in a research report on Monday, August 1st. Argus set a $73.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Monday, July 11th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $72.00 target price on shares of Altria Group in a research report on Monday, September 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Altria Group presently has an average rating of “Buy” and a consensus target price of $69.44.
In other news, SVP Charles N. Whitaker sold 11,000 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.53, for a total value of $731,830.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James E. Dillard III sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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