Linscomb Wealth Inc. Has $334,000 Stake in Altria Group, Inc. (NYSE:MO)

Linscomb Wealth Inc. decreased its position in Altria Group, Inc. (NYSE:MO) by 14.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,654 shares of the company’s stock after selling 1,327 shares during the period. Linscomb Wealth Inc.’s holdings in Altria Group were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MO. Capital Research Global Investors boosted its stake in shares of Altria Group by 1.9% during the 4th quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock valued at $535,701,000 after buying an additional 242,442 shares during the period. Van ECK Associates Corp boosted its stake in shares of Altria Group by 120.6% during the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock valued at $382,201,000 after buying an additional 4,789,788 shares during the period. LSV Asset Management boosted its stake in shares of Altria Group by 15.2% during the 4th quarter. LSV Asset Management now owns 4,681,943 shares of the company’s stock valued at $188,870,000 after buying an additional 617,900 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Altria Group by 24.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,674,441 shares of the company’s stock valued at $188,567,000 after purchasing an additional 915,478 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Altria Group by 1.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,754,522 shares of the company’s stock valued at $163,772,000 after purchasing an additional 54,096 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE:MO traded up $0.63 on Friday, hitting $50.43. 6,995,663 shares of the company were exchanged, compared to its average volume of 7,154,169. The company’s 50 day moving average price is $46.64 and its two-hundred day moving average price is $43.68. Altria Group, Inc. has a one year low of $39.06 and a one year high of $50.47. The firm has a market capitalization of $86.62 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 3.05 and a beta of 0.66.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. Research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 annualized dividend and a dividend yield of 7.77%. Altria Group’s payout ratio is 82.01%.

Insider Transactions at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total transaction of $988,303.65. Following the sale, the vice president now directly owns 173,485 shares in the company, valued at approximately $7,624,665.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MO. Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Bank of America raised their price target on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, UBS Group lifted their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.10.

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.