2024-03-18 07:25:53 ET
Summary
- Altria Group's stock has outperformed the S&P 500 in Q1 2024, up nearly 9% compared to the market's 7% gain.
- Despite underperformance in recent years, Altria's loyal investors are attracted to its reliable and growing dividends.
- Altria's recent stock turnaround can be attributed to the favorable macro environment and the company's strategic moves, including a new buyback program and reducing stakes in other companies.
- The stock has plenty of room to go up before entering my trim zone.
My most recent coverage of my favorite stock, Altria Group, Inc. ( MO ) was more than three months ago in December 2023. I had rated the stock a "Buy", urging investors to buy on the weakness triggered by a move by peer British American Tobacco p.l.c. ( BTI ). Since then, the stock has returned about 9% compared to the market's 12% return. Despite my liking for the stock, had someone told me at the time of my previous article that Altria's stock would outperform the S&P 500 in the first quarter of 2024, I'd have likely laughed at them. Yet, that is exactly what Altria's stock has done as the first calendar quarter of 2024 almost draws to a close. Altria stock is up nearly 9% (excluding dividend) compared to the market's 7% gain YTD....
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For further details see:
Altria: Still Undervalued, Buy On Strength