5 Blue Chip Dividend Stocks with Over 5% Yield

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

Dividend Yield as of July 16: 8.57%

Altria Group, Inc. (NYSE:MO) is an American producer and marketer of tobacco, cigarettes, and related products. Recently, the company announced to raise the prices of its products across many brands in order to support its Q3 profitability. This price increase is effective from July 17.

Altria Group, Inc. (NYSE:MO)’s dividend is one of the safest in the industry. The company spent over $36 billion in dividends and buybacks from 2017 to 2021. In FY21, the company’s payout ratio stood at 76.4% and is expected to be between 75% and 76% for Fy22. In Q1 2022, Altria Group, Inc. (NYSE:MO) paid $1.6 billion in dividends to shareholders. The company’s dividend history is also very strong, raising payouts 56 times in 52 years. It currently offers a quarterly dividend of $0.90 per share, with a yield of 8.57%, as of July 16.

In June, Morgan Stanley raised its price target on Altria Group, Inc. (NYSE:MO) to $47 while upgrading it to Equal Weight.

The number of hedge funds tracked by Insider Monkey owning stakes in Altria Group, Inc. (NYSE:MO) stood at 47 in Q1, up from 39 in the previous quarter. These stakes are collectively valued at nearly $2 billion.

You can also take a look at 10 Value Stocks Hedge Funds Like in 2022 and Oil Price Predictions for 2022 and 10 Stocks to Watch

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