5 High-Yield Dividend Stocks to Buy in July

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

Dividend Yield as of July 13: 8.51%

Altria Group, Inc. (NYSE:MO) is a Virginia-based manufacturing company, specializing in the production of tobacco, cigarettes, and related products. The stock rose 1.41% on July 11, gaining investors’ attention due to having the second-highest yield in the S&P 500 index.

Altria Group, Inc. (NYSE:MO)’s strong dividend history makes it one of the best high-yield dividend stocks, as the company has managed to raise its dividend 56 times over the past 52 years. The company’s payout ratio of 74% is below its goal of 80%, which shows that it’s well positioned for its 2022 dividend raise. Altria Group, Inc. (NYSE:MO) ended Q1 with over $5.3 billion available in cash and cash equivalents, up from $4.5 billion a quarter earlier. Currently, it offers a quarterly payout of $0.90 per share, which yields 8.51% as of July 13.

In June, Morgan Stanley upgraded Altria Group, Inc. (NYSE:MO) to ‘Equal Weight’, appreciating the company’s strong fundamentals. The firm kept a $43 price target on the stock.

According to Insider Monkey’s Q1 database, 47 hedge funds owned stakes in Altria Group, Inc. (NYSE:MO), up from 39 in the previous quarter. Those 47 stakes held a collective value of approximately $2 billion.

You can also take a look at  Top Stock Picks of Michael Burry and 10 Low Beta Dividend Stocks with High Yields

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