CIBC Bancorp USA Inc. Purchases New Position in Altria Group, Inc. $MO

CIBC Bancorp USA Inc. acquired a new position in Altria Group, Inc. (NYSE:MO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 496,012 shares of the company’s stock, valued at approximately $32,767,000.

Other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Altria Group in the 2nd quarter worth $27,000. Country Trust Bank increased its stake 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 buying an additional 400 shares during the period. EMC Capital Management purchased a new position in shares of Altria Group during the third quarter valued at $33,000. Anfield Capital Management LLC raised its holdings 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 acquiring an additional 415 shares in the last quarter. Finally, Gould Capital LLC bought a new stake in shares of Altria Group in the third quarter valued at about $39,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Altria Group Price Performance

Shares of MO stock opened at $65.09 on Thursday. The stock’s 50-day moving average is $64.88 and its 200 day moving average is $62.61. Altria Group, Inc. has a 1-year low of $52.82 and a 1-year high of $70.51. The company has a market cap of $108.83 billion, a P/E ratio of 15.84, a PEG ratio of 2.86 and a beta of 0.45.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be given 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 presently 103.16%.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. UBS Group increased their target price on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Citigroup boosted their price target on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Jefferies Financial Group increased their price objective on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Barclays lifted 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. Finally, Stifel Nicolaus reduced 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 note on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $65.11.

About Altria Group

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.