Lindbrook Capital LLC Lowers Holdings in Altria Group, Inc. (NYSE:MO)

Lindbrook Capital LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 18.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,094 shares of the company’s stock after selling 2,006 shares during the quarter. Lindbrook Capital LLC’s holdings in Altria Group were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in Altria Group in the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new position in Altria Group during the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. raised its stake in Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after buying an additional 260 shares during the last quarter. Fairman Group LLC boosted its holdings in Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Altria Group during the second quarter worth about $44,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

NYSE:MO opened at $54.05 on Friday. The stock has a market capitalization of $91.60 billion, a P/E ratio of 9.13, a PEG ratio of 3.09 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $55.05. The company has a 50 day moving average price of $51.50 and a 200 day moving average price of $48.81.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 7.55%. Altria Group’s dividend payout ratio (DPR) is 68.92%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Citigroup boosted their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Barclays lifted their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Bank of America decreased their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.33.

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.