Is This 9% Dividend Yield Tobacco Stock Finally a Screaming Buy?
Predicting short-term stock price movements is difficult. Some may say it is impossible. Just look at what the stock market has done since 2020. First, it crashed, then it ripped to all-time highs, then it crashed again. Now, in early 2024, the S&P 500 is back to all-time highs due to the artificial intelligence boom. If you've held stocks since 2020, you know how stressful stock market volatility can be, especially if you have a large personal portfolio and are close to retirement.
If you are looking to mitigate these risks and eliminate stress, then high-yielding dividend stocks may be right for you. One of the highest-yielding stocks out there is tobacco giant Altria Group (NYSE: MO). It has a dividend yield above 9% as investors have become increasingly concerned about accelerating volume declines of cigarettes in the U.S. And yet, the company just guided for earnings to grow in 2024, with shares up 3% the day it reported fourth-quarter earnings.
With such a high dividend yield, Altria Group may be a screaming buy at these discounted prices. Here's why.
Source Fool.com
