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

Cibc World Markets Corp increased its stake in Altria Group, Inc. (NYSE:MO) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

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

Altria Group Trading Up 0.7 %

Shares of Altria Group stock opened at $58.97 on Monday. The stock has a fifty day simple moving average of $53.75 and a 200 day simple moving average of $53.31. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67. The company has a market capitalization of $99.70 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 6.92%. Altria Group’s dividend payout ratio is currently 62.29%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MO shares. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley decreased their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Altria Group has an average rating of “Hold” and an average target price of $53.29.

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.