496,012 Shares in Altria Group, Inc. $MO Bought by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. bought a new stake in shares of Altria Group, Inc. (NYSE:MO) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 496,012 shares of the company’s stock, valued at approximately $32,767,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in shares of Altria Group during the second quarter worth about $27,000. Country Trust Bank increased 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 valued at $29,000 after acquiring an additional 400 shares in the last quarter. EMC Capital Management purchased a new position in shares of Altria Group in the 3rd quarter valued at approximately $33,000. Anfield Capital Management LLC raised its position in shares of Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after purchasing an additional 415 shares during the last quarter. Finally, Gould Capital LLC acquired a new stake in Altria Group in the 3rd quarter worth approximately $39,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Down 2.8%

Altria Group stock opened at $65.09 on Thursday. The business’s 50-day moving average price is $64.88 and its 200 day moving average price is $62.61. The firm has a market cap of $108.83 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.86 and a beta of 0.45. Altria Group, Inc. has a 52 week low of $52.82 and a 52 week high of $70.51.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. Equities analysts expect 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 Thursday, April 30th. Investors of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group’s dividend payout ratio is 103.16%.

Insider Transactions at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president owned 180,869 shares in the company, valued at approximately $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

MO has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Stifel Nicolaus decreased their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, January 30th. Barclays boosted their price objective on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, Citigroup raised their target price on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.11.

Altria Group 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.