5 Best Hemp Stocks to Buy Now

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

No of HFs: 47

Total Value of HF Holdings: $1.12 Billion

At the end of September, a total of 47 hedge funds tracked by Insider Monkey held long positions for this stock. An insider recently purchased 1,352 shares at around $52 in February 2019. The stock is down 19% since then. MO was mentioned as one of the Top 10 Sin Stocks to Buy Now. Artko Capital mentioned MO in its Q2 2020 investor letter:

“Altria Group (MO) – We made an 9% Core Portfolio investment in Altria group at sub $40.00 in 2019 with the view that it was a good place to park cash at an 8%+ dividend yield with liquidity and a 15- 25% annual IRR upside. When the stock reached $50+ in early 2020 we took half of our position off the table and took the rest off back at $40 in the spring 2020 as we are positioning our portfolio to have significantly higher upside in the nanocap space as the economy and the small cap markets recover over the next few years. We may come back to MO in the future as it is a solid dividend yielding investment, but as we mentioned earlier, our strategy does involve off-the-beaten-path companies with an opportunity to get repriced on growth of revenues and earnings and Altria Group’s low growth was not going to get us the returns we seek given the repricing of the value segment of the small cap markets.”