DoubleLine ETF Adviser LP Takes Position in Altria Group, Inc. $MO

DoubleLine ETF Adviser LP purchased a new position in shares of Altria Group, Inc. (NYSE:MO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 63,290 shares of the company’s stock, valued at approximately $4,181,000. Altria Group comprises about 1.3% of DoubleLine ETF Adviser LP’s portfolio, making the stock its 19th largest position.

A number of other large investors have also modified their holdings of MO. Darwin Wealth Management LLC acquired a new position in Altria Group during the 2nd quarter valued at about $27,000. Country Trust Bank increased its stake in shares of Altria Group by 400.0% in the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC raised its holdings in shares of Altria Group by 334.7% during the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares during the last quarter. Winnow Wealth LLC acquired a new position in shares of Altria Group during the second quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. grew its holdings in Altria Group by 634.5% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock worth $42,000 after buying an additional 552 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

MO has been the topic of several analyst reports. UBS Group raised their target price on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Argus raised Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Jefferies Financial Group raised their price target on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a report 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 research note on Monday, February 23rd. Finally, Stifel Nicolaus decreased their target price on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.11.

Insider Activity at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’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 sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by insiders.

Altria Group Stock Performance

Shares of MO stock opened at $67.96 on Friday. Altria Group, Inc. has a 1 year low of $52.82 and a 1 year high of $70.51. The business’s fifty day moving average is $64.21 and its 200-day moving average is $62.61. The stock has a market cap of $113.62 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. During the same period in the prior year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.2%. Altria Group’s payout ratio is currently 103.16%.

Altria Group Company 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.