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Altria's main product is cigarettes, a business line that has seen severe volume declines. Altria's historically high dividend yield is alluring, but Hormel Foods is also offering a historically high yield.
The retail sector can be broadly divided into consumer staples and discretionary. As the name suggests, staples typically imply essential products used by consumers.
We believe there is still a chance to make a double digit move to the upside, notes Aquiles Larrea on Boeing (BA). He and Ben Lichtenstein discuss today's big three stocks Boeing, Caterpillar (CAT), and Altria (MO).
The share price of Altria Group Inc. (NYSE: MO), the tobacco company, has risen 14% this year to about $46.
The share price of Altria Group Inc. (NYSE: MO), the tobacco company, has risen 14% this year to about $46.
RICHMOND, Va.--(BUSINESS WIRE)---- $MO #ALTRIA--ALTRIA HOLDS 2024 ANNUAL MEETING OF SHAREHOLDERS; DECLARES REGULAR QUARTERLY DIVIDEND OF $0.98 PER SHARE.
It's no secret that high interest rates are a headwind for dividend-paying stocks, but some are worth considering.
Altria's ~14% stock price rise YTD is supported by multiple factors like a high dividend yield, increased share buybacks and upgraded earnings outlook. These override any impact the otherwise weak Q1 2024 results might have had, especially as the adjusted earnings were impacted by shrinking revenues. Even though MO's P/E has inched up this year, price gains are still possible, or at the very least, a price decline is unlikely and its dividend yield is robust.
Zacks.com users have recently been watching Altria (MO) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
As a long-term income investor, I've always enjoyed quality, high-yield dividend stocks. Dividend stocks offer the rare combination of income and capital growth that compensates for the missing realized income you might have if you did sell the stock.