Cibc World Market Inc. Has $36.54 Million Holdings in Altria Group, Inc. $MO

Cibc World Market Inc. raised its position in shares of Altria Group, Inc. (NYSE:MO) by 62.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 553,105 shares of the company’s stock after buying an additional 212,229 shares during the period. Cibc World Market Inc.’s holdings in Altria Group were worth $36,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in Altria Group during the 2nd quarter valued at $27,000. Country Trust Bank grew its holdings in shares of Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Anfield Capital Management LLC increased its stake in shares of Altria Group by 334.7% in the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares in the last quarter. Winnow Wealth LLC bought a new position in shares of Altria Group in the second quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. lifted its position in Altria Group by 634.5% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock worth $42,000 after buying an additional 552 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 2.4%

Altria Group stock opened at $65.92 on Thursday. The firm has a market capitalization of $110.65 billion, a P/E ratio of 16.04, a PEG ratio of 3.55 and a beta of 0.47. The business has a 50-day moving average of $60.06 and a 200-day moving average of $62.08. Altria Group, Inc. has a 1 year low of $52.40 and a 1 year high of $68.60.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. Research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group declared that its board has initiated a share repurchase plan on Thursday, October 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $1.06 dividend. The ex-dividend date was Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. Altria Group’s dividend payout ratio is currently 103.16%.

Analyst Ratings Changes

MO has been the subject of several research reports. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Citigroup increased their price target on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus dropped their price objective on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, UBS Group lifted their price objective on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.67.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.