Spinnaker Investment Group LLC Takes Position in Altria Group, Inc. (NYSE:MO)

Spinnaker Investment Group LLC bought a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,392 shares of the company's stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in Altria Group in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new position in Altria Group in the 4th quarter valued at about $29,000. Inlight Wealth Management LLC acquired a new position in Altria Group in the 1st quarter valued at about $31,000. Marshall Investment Management LLC acquired a new position in Altria Group in the 4th quarter valued at about $32,000. Finally, Promus Capital LLC acquired a new position in Altria Group in the 4th quarter valued at about $33,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. Stifel Nicolaus boosted their price target on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research report on Tuesday, April 1st. Citigroup boosted their target price on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC upgraded Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.00.

Altria Group Price Performance

Shares of NYSE:MO opened at $59.60 on Monday. The business's 50 day simple moving average is $59.04 and its 200-day simple moving average is $56.17. The firm has a market capitalization of $100.39 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 3.49 and a beta of 0.61. Altria Group, Inc. has a 12 month low of $45.17 and a 12 month high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.85%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio (DPR) is 68.34%.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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