5 Best Consumer Staples Dividend Stocks to Buy Now

1. Altria Group, Inc. (NYSE:MO)

Dividend Yield as of November 8: 8.17%

Altria Group, Inc. (NYSE:MO) is one of the world’s largest producers and marketers of tobacco and related products. The company is headquartered in Virginia, US. In the third quarter of 2022, the company’s shareholder return remained strong due to consistent cash flows and a solid balance sheet. It repurchased shares worth $368 million during the quarter. Also, the company paid $1.6 billion in dividends to shareholders, which makes it one of the best dividend stocks to buy.

Altria Group, Inc. (NYSE:MO) pays a quarterly dividend of $0.94 per share and has a dividend yield of 8.17%, as recorded on November 8. In 2022, the company extended its dividend growth streak to 53 years.

In October, Stifel raised its price target on Altria Group, Inc. (NYSE:MO) to $50 with a Buy rating on the shares, highlighting the company’s joint venture with Japan Tobacco.

As of the close of Q2 2022, 48 hedge funds tracked by Insider Monkey reported owning stakes in Altria Group, Inc. (NYSE:MO), up from 47 in the previous quarter. These stakes hold a combined value of over $1.8 billion.

You can also take a look at Goldman Sachs’ Cheap Dividend Stocks and 12 Best Financial Dividend Stocks to Invest In

Follow Insider Monkey on Twitter