Cibc World Markets Corp Has $31.14 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Cibc World Markets Corp boosted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 595,440 shares of the company's stock after acquiring an additional 53,228 shares during the quarter. Cibc World Markets Corp's holdings in Altria Group were worth $31,136,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MO. KBC Group NV lifted its position in Altria Group by 6.9% in the 3rd quarter. KBC Group NV now owns 136,380 shares of the company's stock valued at $6,961,000 after acquiring an additional 8,823 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Altria Group by 7.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 55,385 shares of the company's stock valued at $2,827,000 after acquiring an additional 3,975 shares in the last quarter. Schneider Downs Wealth Management Advisors LP bought a new stake in Altria Group in the 3rd quarter valued at $216,000. GoalVest Advisory LLC lifted its position in Altria Group by 7.1% in the 3rd quarter. GoalVest Advisory LLC now owns 26,778 shares of the company's stock valued at $1,367,000 after acquiring an additional 1,774 shares in the last quarter. Finally, Gladius Capital Management LP lifted its position in Altria Group by 5.0% in the 3rd quarter. Gladius Capital Management LP now owns 5,919 shares of the company's stock valued at $302,000 after acquiring an additional 283 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on MO. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley cut their price target on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Altria Group has a consensus rating of "Hold" and a consensus target price of $53.29.

Remove Ads

Altria Group Stock Up 0.2 %

Shares of MO stock traded up $0.14 on Thursday, reaching $58.09. The stock had a trading volume of 7,207,280 shares, compared to its average volume of 8,586,335. The firm's 50-day moving average is $54.16 and its two-hundred day moving average is $53.42. The firm has a market capitalization of $98.21 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $59.67.

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, beating analysts' consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.02%. Altria Group's payout ratio 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.