Torray Investment Partners LLC Increases Stake in Altria Group, Inc. (NYSE:MO)

Torray Investment Partners LLC grew its position in Altria Group, Inc. (NYSE:MO) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,587 shares of the company’s stock after acquiring an additional 644 shares during the period. Torray Investment Partners LLC’s holdings in Altria Group were worth $3,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Maryland Capital Advisors Inc. lifted its holdings in Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after acquiring an additional 349 shares during the period. BNP Paribas purchased a new position in shares of Altria Group in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group in the second quarter valued at about $27,000. Pineridge Advisors LLC purchased a new stake in Altria Group during the fourth quarter worth about $28,000. Finally, Westend Capital Management LLC acquired a new position in Altria Group during the first quarter worth about $29,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MO has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Barclays boosted their price target on Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Argus raised Altria Group to a “hold” rating in a research note on Friday, May 31st. Finally, Bank of America raised their price target on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.58.

Altria Group Stock Performance

NYSE MO traded down $0.58 during trading hours on Friday, hitting $53.69. 8,207,736 shares of the company’s stock were exchanged, compared to its average volume of 10,317,011. The business’s 50 day moving average is $50.15 and its 200-day moving average is $45.98. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The firm has a market capitalization of $92.22 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 3.13 and a beta of 0.65.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.1 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.60%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is 85.36%.

Altria Group Company Profile

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.