Apollon Wealth Management LLC Boosts Position in Altria Group, Inc. (NYSE:MO)

Apollon Wealth Management LLC grew its holdings in shares of Altria Group, Inc. (NYSE:MO) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,164 shares of the company’s stock after buying an additional 12,307 shares during the quarter. Apollon Wealth Management LLC’s holdings in Altria Group were worth $5,081,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of Altria Group during the fourth quarter worth about $25,000. True Wealth Design LLC increased its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Altria Group in the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. purchased a new position in shares of Altria Group during the 3rd quarter valued at approximately $41,000. Finally, Fairman Group LLC grew its position in shares of Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after buying an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Altria Group stock opened at $52.65 on Friday. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The company has a 50-day simple moving average of $53.09 and a 200-day simple moving average of $52.44. The firm has a market capitalization of $89.24 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.80 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.75%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MO shares. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Stifel Nicolaus boosted their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Barclays increased their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus target price of $53.29.

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.