CIBC Private Wealth Group LLC Sells 30,166 Shares of Altria Group, Inc. (NYSE:MO)

CIBC Private Wealth Group LLC trimmed its position in Altria Group, Inc. (NYSE:MO) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,526 shares of the company’s stock after selling 30,166 shares during the period. CIBC Private Wealth Group LLC’s holdings in Altria Group were worth $13,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. RWA Wealth Partners LLC increased its holdings in shares of Altria Group by 3.0% during the fourth quarter. RWA Wealth Partners LLC now owns 15,361 shares of the company’s stock valued at $803,000 after acquiring an additional 453 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Altria Group by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 22,273,491 shares of the company’s stock valued at $1,164,681,000 after purchasing an additional 76,004 shares in the last quarter. Allianz SE acquired a new position in shares of Altria Group in the 4th quarter valued at $715,000. Intrust Bank NA raised its stake in shares of Altria Group by 10.5% in the fourth quarter. Intrust Bank NA now owns 18,622 shares of the company’s stock worth $974,000 after purchasing an additional 1,768 shares during the last quarter. Finally, Allstate Corp purchased a new position in Altria Group during the 4th quarter worth approximately $2,665,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on MO shares. Morgan Stanley dropped 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. Bank of America upgraded 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Performance

MO stock opened at $60.11 on Tuesday. Altria Group, Inc. has a one year low of $40.65 and a one year high of $60.18. The firm has a market cap of $101.62 billion, a PE ratio of 9.18, a PEG ratio of 2.89 and a beta of 0.56. The firm’s 50 day moving average price is $55.23 and its 200-day moving average price is $53.65.

Altria Group (NYSE:MO) last posted its 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%. Equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 6.79%. Altria Group’s dividend payout ratio (DPR) 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.