Cibc World Market Inc. Invests $17.11 Million in Altria Group, Inc. $MO

Cibc World Market Inc. purchased a new stake in shares of Altria Group, Inc. (NYSE:MO) during the second quarter, Holdings Channel.com reports. The firm purchased 237,861 shares of the company’s stock, valued at approximately $17,114,000.

Several other hedge funds have also made changes to their positions in MO. Comprehensive Financial Planning Inc. PA purchased a new position in Altria Group during the 2nd quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Altria Group in the second quarter valued at $27,000. Navalign LLC purchased a new stake in shares of Altria Group in the fourth quarter valued at $28,000. Hughes Financial Services LLC boosted its position in shares of Altria Group by 62.9% in the fourth quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 197 shares during the period. Finally, Miller Capital Partners Inc. acquired a new stake in shares of Altria Group in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO stock opened at $68.46 on Tuesday. Altria Group, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $77.06. The stock’s 50-day moving average is $70.18 and its two-hundred day moving average is $68.89. The firm has a market cap of $114.32 billion, a P/E ratio of 14.44, a PEG ratio of 2.34 and a beta of 0.46.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.35 billion. Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, research analysts expect that Altria Group, Inc. will post 5.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Altria Group from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Citigroup lifted their target price on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $77.00 target price on shares of Altria Group in a report on Thursday, April 30th. Finally, Morgan Stanley set a $71.00 price target on shares of Altria Group in a research report on Friday, May 1st. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average target price of $70.11.

Altria Group Profile

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.