Apollon Wealth Management LLC Buys 385 Shares of Altria Group, Inc. (NYSE:MO)

Apollon Wealth Management LLC grew its stake in Altria Group, Inc. (NYSE:MO) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,539 shares of the company’s stock after buying an additional 385 shares during the period. Apollon Wealth Management LLC’s holdings in Altria Group were worth $3,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MO. Van ECK Associates Corp lifted its position in shares of Altria Group by 120.6% during the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock valued at $382,201,000 after acquiring an additional 4,789,788 shares during the period. United Services Automobile Association boosted its position in shares of Altria Group by 103.9% during the 4th quarter. United Services Automobile Association now owns 1,803,226 shares of the company’s stock worth $72,742,000 after purchasing an additional 919,058 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Altria Group by 24.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,674,441 shares of the company’s stock worth $188,567,000 after purchasing an additional 915,478 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Altria Group by 131.3% in the 4th quarter. Bank of Nova Scotia now owns 1,418,284 shares of the company’s stock valued at $57,211,000 after buying an additional 805,051 shares during the period. Finally, Cetera Investment Advisers increased its position in Altria Group by 415.4% in the 1st quarter. Cetera Investment Advisers now owns 984,285 shares of the company’s stock valued at $42,935,000 after buying an additional 793,327 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MO has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Bank of America raised their price target on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Barclays boosted their price objective on Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.08.

Altria Group Stock Performance

Shares of Altria Group stock opened at $51.32 on Tuesday. The firm has a market capitalization of $88.15 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. The business’s fifty day simple moving average is $48.03 and its 200 day simple moving average is $44.80. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $51.56.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Analysts predict that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Company 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.