Cibc Bank USA Sells 1,877 Shares of Altria (MO)

Cibc Bank USA lowered its holdings in Altria (NYSE:MO) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,983 shares of the company’s stock after selling 1,877 shares during the period. Cibc Bank USA’s holdings in Altria were worth $2,555,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Taylor Hoffman Wealth Management bought a new position in shares of Altria in the 4th quarter worth about $120,000. Smart Portfolios LLC bought a new stake in Altria in the 1st quarter valued at about $129,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Altria in the 4th quarter valued at about $134,000. Centerpoint Advisors LLC lifted its position in Altria by 73.7% in the 1st quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock valued at $147,000 after purchasing an additional 999 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in Altria in the 1st quarter valued at about $147,000. 63.04% of the stock is owned by institutional investors.

Several research firms have commented on MO. Argus reissued a “buy” rating and set a $79.00 target price (up previously from $66.13) on shares of Altria in a research note on Wednesday, March 14th. Zacks Investment Research cut shares of Altria from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Citigroup cut shares of Altria from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research note on Wednesday, April 18th. Morgan Stanley lowered their target price on shares of Altria from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 18th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $84.00 target price on shares of Altria in a research note on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Altria currently has an average rating of “Buy” and an average target price of $72.08.

Shares of Altria traded up $0.22, hitting $56.09, during mid-day trading on Tuesday, according to Marketbeat. The company’s stock had a trading volume of 336,531 shares, compared to its average volume of 7,711,767. The stock has a market capitalization of $107.48 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.65 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.34. Altria has a fifty-two week low of $53.91 and a fifty-two week high of $74.98.

Altria (NYSE:MO) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Altria had a net margin of 41.85% and a return on equity of 49.92%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. equities research analysts forecast that Altria will post 4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 annualized dividend and a dividend yield of 4.99%. Altria’s dividend payout ratio is currently 82.84%.

Altria declared that its Board of Directors has initiated a stock buyback program on Thursday, May 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Altria news, Director Mark Newman acquired 5,345 shares of the stock in a transaction dated Monday, April 30th. The shares were bought at an average price of $56.19 per share, with a total value of $300,335.55. Following the purchase, the director now directly owns 6,022 shares of the company’s stock, valued at approximately $338,376.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

About Altria

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.

Institutional Ownership by Quarter for Altria (NYSE:MO)

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