CIBC Private Wealth Group LLC Sells 46,869 Shares of Altria Group Inc (NYSE:MO)

CIBC Private Wealth Group LLC cut its holdings in shares of Altria Group Inc (NYSE:MO) by 28.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,735 shares of the company’s stock after selling 46,869 shares during the period. CIBC Private Wealth Group LLC’s holdings in Altria Group were worth $4,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MO. Waters Parkerson & CO. LLC increased its position in shares of Altria Group by 0.3% in the second quarter. Waters Parkerson & CO. LLC now owns 73,348 shares of the company’s stock valued at $3,473,000 after acquiring an additional 225 shares during the last quarter. Outlook Wealth Advisors LLC increased its position in shares of Altria Group by 2.6% in the second quarter. Outlook Wealth Advisors LLC now owns 9,006 shares of the company’s stock valued at $426,000 after acquiring an additional 225 shares during the last quarter. Busey Wealth Management increased its position in shares of Altria Group by 1.5% in the second quarter. Busey Wealth Management now owns 15,478 shares of the company’s stock valued at $732,000 after acquiring an additional 234 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Altria Group by 0.6% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 37,591 shares of the company’s stock valued at $1,780,000 after acquiring an additional 240 shares during the last quarter. Finally, Trust Co. of Toledo NA OH increased its position in shares of Altria Group by 5.4% in the second quarter. Trust Co. of Toledo NA OH now owns 4,719 shares of the company’s stock valued at $223,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 63.29% of the company’s stock.

A number of analysts recently issued reports on the company. Citigroup raised Altria Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $45.00 to $46.00 in a research report on Friday. Barclays set a $50.00 target price on Altria Group and gave the company a “buy” rating in a research report on Tuesday, October 8th. Piper Jaffray Companies set a $49.00 target price on Altria Group and gave the company a “hold” rating in a research report on Monday, September 30th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a research report on Thursday, September 12th. Finally, Goldman Sachs Group downgraded Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price on the stock. in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Altria Group has an average rating of “Hold” and a consensus target price of $55.35.

Shares of NYSE MO opened at $44.33 on Friday. The business’s 50 day moving average price is $42.27 and its two-hundred day moving average price is $48.55. The company has a market cap of $82.72 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.65 and a beta of 0.40. The company has a quick ratio of 0.28, a current ratio of 0.56 and a debt-to-equity ratio of 1.87. Altria Group Inc has a twelve month low of $39.30 and a twelve month high of $66.04.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.10. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, research analysts anticipate that Altria Group Inc will post 4.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date was Friday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s payout ratio is 84.21%.

Altria Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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