5 Low-Priced Blue Chip Stocks to Buy Now

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

Number of Hedge Fund Holders: 47

Share Price as of June 17: $45.31

Altria Group, Inc. (NYSE:MO) manufactures and sells smokable and oral tobacco products in the United States. The company is most famous for its Marlboro brand. As of April 29, Deutsche Bank analyst Steve Powers has a $60 price target and Buy rating on Altria Group, Inc. (NYSE:MO).

As of June 17, Altria Group, Inc. (NYSE:MO) has a forward dividend yield of 7.95% and a price-to-earnings ratio of 9.34, which makes it an undervalued dividend blue-chip stock to invest in. The company has been paying out dividends to investors for the past 18 years and has a 5-year dividend CAGR of 8.09%.

On May 19, Altria Group, Inc. (NYSE:MO) declared a quarterly cash dividend of $0.90 per share, in-line with the previous. The dividend is payable on July 11 to shareholders of record on June 15.

At the end of Q1 2022, 47 hedge funds were long Altria Group, Inc. (NYSE:MO) with stakes worth $1.95 billion. This is compared to 39 positions in Q4 2021 with stakes worth $1.05 billion. The hedge fund sentiment for the stock is positive.

In the first quarter of 2022, GQG Partners raised its stakes in Altria Group, Inc. (NYSE:MO) by 100%, bringing them to $956.22 million. GQG Partners is the dominating shareholder in the company as of March 31, 2022.