Altria Is Down 38% From Its High. Time to Buy?
Altria Group's (NYSE: MO) dividend yield is a huge 7.8% today, easily toward the high end of the range over the past decade. That's largely thanks to a mix of regular dividend increases along with massive stock price declines. Shares have fallen around 16% from their highs in 2022 and are off by a whopping 38% since peaking in 2017 or so.
Does this present a buying opportunity or should investors look for other options?
Altria's primary business is making and selling cigarettes in the United States under iconic brand names like Marlboro. While there has been a massive pushback against smoking, which is harmful to the health of smokers and those around them, there remains a core customer base that continues to smoke. Altria has, basically, been able to increase prices enough to mitigate the impact of the ongoing decline in smokers.
Source Fool.com
