CIBC Private Wealth Group LLC Acquires 9,706 Shares of Altria Group, Inc. (NYSE:MO)

CIBC Private Wealth Group LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,260 shares of the company’s stock after purchasing an additional 9,706 shares during the period. CIBC Private Wealth Group LLC’s holdings in Altria Group were worth $11,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Loomis Sayles & Co. L P acquired a new position in shares of Altria Group during the first quarter worth $25,000. Ruedi Wealth Management Inc. bought a new stake in Altria Group during the fourth quarter valued at $30,000. Ellevest Inc. boosted its position in Altria Group by 346.7% during the first quarter. Ellevest Inc. now owns 670 shares of the company’s stock valued at $30,000 after acquiring an additional 520 shares during the last quarter. NewSquare Capital LLC boosted its position in Altria Group by 153.8% during the first quarter. NewSquare Capital LLC now owns 731 shares of the company’s stock valued at $33,000 after acquiring an additional 443 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Altria Group during the fourth quarter valued at $34,000. 58.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Altria Group from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 22nd. StockNews.com assumed coverage on shares of Altria Group in a research report on Thursday, August 17th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.50.

Altria Group Price Performance

MO stock opened at $44.52 on Thursday. The stock has a market capitalization of $79.01 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.59. The company’s 50-day moving average is $44.59 and its 200-day moving average is $45.32. Altria Group, Inc. has a 1 year low of $40.35 and a 1 year high of $51.57.

Altria Group (NYSE:MO) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Altria Group had a net margin of 27.40% and a negative return on equity of 225.61%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, analysts anticipate that Altria Group, Inc. will post 5 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a $0.98 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, September 14th. This represents a $3.92 annualized dividend and a yield of 8.81%. Altria Group’s dividend payout ratio (DPR) is presently 98.69%.

Altria Group Profile

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; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.