Top Dividend Stock Altria Is Currently Trading In A Buy Zone

Blockhead11-21 21:00

Top dividend stock Altria (MO) is trading in a buy zone after breaking out of a cup-with-handle pattern, surpassing an entry of 54.94 on Nov. 13. Maker of the iconic Marlboro cigarettes, Altria has ...

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The most recent hike, in August, brought the quarterly payout to $1.02 per share.\nIn addition to a high yield, Altria is currently finishing up a $3.4 billion share buyback program. The company expects to purchase an additional $310 million in stock by the end of this year. \nAltria: Trading As A Value Stock\nWith a price-to-earnings ratio of just 11, Altria offers value to investors. \nCritics are quick to cite U.S. domestic cigarette sales, which are declining at a faster pace than the global market, as a major headwind. Uncertainty in the growth of Altria's smoke-free segment to counteract this could justify the stock's low valuation.\nBut Altria's financial performance continues to counter these concerns. In its third-quarter earnings report issued Oct. 31, the company posted earnings of $1.38 a share, beating analyst estimates of $1.35 a share. \nRevenue also exceeded expectations, reaching $1.34 billion.\nVaping Unit Shows Promise\nMeanwhile, Altria's e-cigarette and vaping division, NJOY, showed promising growth, with device shipments doubling year over year to 1.1 million units. NJOY also gained market share within the industry.\nFurther, revenue from Altria's traditional combustibles segment declined only slightly to $5.54 billion. The impact of lower shipment volumes was mitigated by price increases and strong performance from the Marlboro brand.\nAltria also reaffirmed its outlook, projecting earnings of $5.12 a share for the year, up from $4.95 in 2023. Analysts estimate earnings will reach $5.33 a share by 2026.\nAltria stock currently holds a decent Relative Strength Rating of 83 out of a best-possible 99. The metric compares the stock with the rest of the market over the last 12 months. Its overall Composite Rating is 74.\nYOU MAY ALSO LIKE:\nPalantir Rakes In $7.7 Billion — Mere Peanuts Next To This\nBye-Bye, Apple! Here Are Warren Buffett's Real Magnificent Seven Stocks\nBreakout Watch: Warren Buffett Stock Smashes Apple And Amazon\nFind The Next Palantir, Nvidia And Hot IPO With This Customizable Tool\nSpot Top Stocks To Buy And Watch With IBD Leaderboard","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485172493"}