5 Best High-Yield Dividend Champions to Buy in August

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

Dividend Yield as of August 1: 8.21%

One of the world’s largest producers of tobacco products, Altria Group, Inc. (NYSE:MO) has raised its dividends 56 times in the past 52 years. The company’s quarterly earnings presented solid financial health, with over $3 billion in free cash flow in Q1, up from $2.6 billion in the previous quarter. Its operating cash flow also came in at over $3.07 billion. Altria Group, Inc. (NYSE:MO) pays a quarterly dividend of $0.90 per share, with a dividend yield of 8.21%, as of the close of August 1.

In July, Jefferies expressed concerns regarding slow demand for tobacco-related products in the US and set a $54 price target on Altria Group, Inc. (NYSE:MO) while maintaining a Buy rating on the shares.

Insider Monkey’s database shows that the hedge fund interest increased in Altria Group, Inc. (NYSE:MO) in Q1 2022, as 47 hedge funds owned stakes in the company, up from 39 in the previous quarter. The combined value of these stakes is nearly $2 billion. Ken Griffin, Jim Simons, and Rajiv Jain were the company’s most prominent stakeholders in Q1.

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