Lincoln National Corp Buys 7,963 Shares of Altria Group, Inc. (NYSE:MO)

Lincoln National Corp grew its stake in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 15.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 60,247 shares of the company’s stock after purchasing an additional 7,963 shares during the period. Lincoln National Corp’s holdings in Altria Group were worth $3,148,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bromfield Sneider Wealth Advisors purchased a new position in shares of Altria Group in the 1st quarter worth approximately $27,000. Rinkey Investments purchased a new position in shares of Altria Group in the 4th quarter worth approximately $30,000. Masso Torrence Wealth Management Inc. purchased a new position in shares of Altria Group in the 4th quarter worth approximately $31,000. Reitz Capital Advisors LLC purchased a new position in shares of Altria Group in the 1st quarter worth approximately $31,000. Finally, Okabena Investment Services Inc. purchased a new position in shares of Altria Group in the 4th quarter worth approximately $32,000. 59.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

MO has been the topic of a number of research analyst reports. Sanford C. Bernstein downgraded Altria Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $58.00 to $53.00 in a research note on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft cut their target price on Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Cowen dropped their price objective on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, June 27th. Bank of America dropped their price objective on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, July 8th. Finally, StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.00.

Altria Group Price Performance

NYSE:MO opened at $44.10 on Friday. The company has a market cap of $79.42 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.28 and a beta of 0.62. The stock’s fifty day moving average price is $45.15 and its two-hundred day moving average price is $49.97. Altria Group, Inc. has a 1 year low of $41.00 and a 1 year high of $57.05.

Altria Group (NYSE:MOGet Rating) last posted its earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, analysts expect that Altria Group, Inc. will post 4.86 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, June 14th. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. Altria Group’s dividend payout ratio is currently 371.13%.

Altria Group Profile

(Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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