Linscomb Wealth Inc. Has $280,000 Position in Altria Group, Inc. (NYSE:MO)

Linscomb Wealth Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,364 shares of the company’s stock after selling 348 shares during the period. Linscomb Wealth Inc.’s holdings in Altria Group were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Financial Life Planners bought a new position in shares of Altria Group during the fourth quarter valued at $25,000. True Wealth Design LLC raised its position in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. Marshall Investment Management LLC acquired a new position in Altria Group during the 4th quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group in the 3rd quarter valued at about $34,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at about $40,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $55.83 on Friday. The company has a market capitalization of $94.61 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03. The company has a 50-day simple moving average of $52.77 and a two-hundred day simple moving average of $52.89.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio is presently 62.29%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley reduced their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus boosted their target price on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays increased their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group 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.