CIBC Private Wealth Group LLC Lowers Position in Altria Group, Inc. (NYSE:MO)

CIBC Private Wealth Group LLC lessened its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,526 shares of the company's stock after selling 30,166 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Altria Group were worth $13,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Altria Group during the 4th quarter worth approximately $25,000. True Wealth Design LLC raised its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company's stock worth $29,000 after acquiring an additional 462 shares during the period. VSM Wealth Advisory LLC purchased a new position in Altria Group during the fourth quarter valued at $29,000. Marshall Investment Management LLC purchased a new position in Altria Group during the fourth quarter valued at $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. UBS Group increased their target price on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $54.00.

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Altria Group Price Performance

Shares of NYSE:MO traded down $1.06 during midday trading on Tuesday, hitting $58.96. The company had a trading volume of 19,146,750 shares, compared to its average volume of 8,908,858. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $60.20. The stock has a market cap of $99.68 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The business's 50-day simple moving average is $55.38 and its 200-day simple moving average is $53.69.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 6.92%. Altria Group's dividend payout ratio (DPR) is 62.29%.

About Altria Group

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.