5 Large-Cap Dividend Stocks with Over 5% Yield

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

Dividend Yield as of August 18: 7.98%

An American manufacturer of tobacco, Altria Group, Inc. (NYSE:MO)’s business has remained stable over the years, especially considering its shareholder commitment. In Q2 2022, the company paid $1.6 billion in dividends and repurchased over 10 million shares for $507 million. Moreover, it is determined to meet its dividend payout ratio target of approximately 80%.

Altria Group, Inc. (NYSE:MO) pays a quarterly dividend of $0.90 per share. The stock has a dividend yield of 7.98%, as recorded on August 18. The company holds one of the strongest track records of dividend growth, raising its payouts for 52 years straight.

In July, Jefferies set a $54 price target on Altria Group, Inc. (NYSE:MO) with a Buy rating on the shares, expecting a double-digit dividend yield in the coming years.

With over $1.8 billion worth of stakes, 48 hedge funds held positions in Altria Group, Inc. (NYSE:MO) in Q2 2022, according to Insider Monkey’s database. Arrowstreet Capital was the company’s largest stakeholder at the end of June, with stakes worth over $370.3 million.