5 Best Dividend Stocks with Over 5% Yield According to Hedge Funds

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

Number of Hedge Fund Holders: 47
Dividend Yield: 7.1%

Altria Group, Inc. (NYSE: MO) is a tobacco company manufacturing cigarettes, oral tobacco products, and wine in the US. The company ranks 4th on our list of the best dividend stocks with over 5% yield according to hedge funds.

This August, Morgan Stanley’s Pamela Kaufman retained her Overweight rating on shares of Altria Group, Inc. (NYSE: MO). The analyst also has a $110 price target on the stock.

In the second quarter of 2021, Altria Group, Inc. (NYSE: MO) had an EPS of $1.23, beating estimates by $0.06. The company’s revenue was $5.61 billion, up 10.90% year over year and beating estimates by $250.80 million. Altria Group, Inc. (NYSE: MO) has gained 11.3% in the past 6 months and 18.9% year to date.

By the end of the second quarter of 2021, 47 hedge funds out of the 873 tracked by Insider Monkey held stakes in Altria Group, Inc. (NYSE: MO) worth roughly $948 million. This is compared to 38 hedge funds in the previous quarter with a total stake value of approximately $1.1 billion.