CIBC Asset Management Inc Has $48.40 Million Stake in Altria Group, Inc. $MO

Key Points

• CIBC Asset Management increased its Altria stake by 23.2% in the fourth quarter, ending with 839,373 shares valued at about $48.4 million.
• Altria reported better-than-expected quarterly results, with EPS of $1.32 versus the $1.25 consensus and revenue of $4.76 billion, up 5.3% year over year.
• The company declared a quarterly dividend of $1.06 per share, implying a $4.24 annual payout and a 6.0% yield; analysts currently rate the stock a consensus Hold with an average price target of $70.44.

CIBC Asset Management Inc lifted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 23.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 839,373 shares of the company's stock after purchasing an additional 158,012 shares during the quarter. CIBC Asset Management Inc owned 0.05% of Altria Group worth $48,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in Altria Group in the 2nd quarter valued at $27,000. Navalign LLC purchased a new stake in Altria Group in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new stake in Altria Group in the 4th quarter valued at $29,000. EMC Capital Management purchased a new stake in Altria Group in the 3rd quarter valued at $33,000. Finally, Elevation Wealth Partners LLC raised its position in Altria Group by 79.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 630 shares of the company's stock valued at $36,000 after buying an additional 278 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Altria Group

In other news, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the transaction, the director owned 73,809 shares in the company, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total value of $145,120.00. Following the transaction, the director owned 25,102 shares of the company's stock, valued at $1,821,401.12. The trade was a 7.38% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by corporate insiders.

Altria Group Stock Performance

MO stock opened at $70.45 on Thursday. The company has a market capitalization of $117.64 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.59 and a beta of 0.46. Altria Group, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $74.56. The stock has a fifty day moving average of $68.50 and a 200-day moving average of $64.31.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. Equities analysts predict that Altria Group, Inc. will post 5.68 EPS for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.06 per share. The ex-dividend date is Monday, June 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.0%. Altria Group's dividend payout ratio is presently 88.70%.

Wall Street Analyst Weigh In

MO has been the subject of a number of analyst reports. Citigroup increased their price target on Altria Group from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. UBS Group increased their price target on Altria Group from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Jefferies Financial Group upped their price objective on Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Stifel Nicolaus upped their price objective on Altria Group from $68.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $70.44.

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.

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