5 Dividend Stocks Redditors are Buying for Recession

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

Dividend Yield as of July 10: 8.67%

Altria Group, Inc. (NYSE:MO) is a Virginia-based manufacturing company that specializes in tobacco, cigarettes, and related products. On June 24, Morgan Stanley upgraded the stock to ‘Equal Weight’, highlighting the company’s fundamentals and long-term structural positioning. The firm maintained a $43 price target on the stock.

At the end of Q1, Altria Group, Inc. (NYSE:MO) had over $5.3 billion available in cash and cash equivalents, up from $4.5 billion in the previous quarter. The company paid nearly $1.3 billion in dividends in Q1, which shows its financial strength. Altria Group, Inc. (NYSE:MO) has grown its dividend payments 56 times in the past 52 years, with its 5-year dividend CAGR standing at 8.09%. The company currently offers a quarterly payout of $0.90 per share, with a yield of 8.67%.

The number of hedge funds tracked by Insider Monkey that reported owning stakes in Altria Group, Inc. (NYSE:MO) stood at 47 in Q1, up from 39 in the previous quarter. Those stakes held a consolidated value of nearly $2 billion.

You can also take a look at 12 Best Bear Market Stocks to Buy Now and  Top Stock Picks of Michael Burry.

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