With the market in bad shape and likely to get worse, investors are running in circles looking for something to buy? Well, tobacco takes a long time to go out of style. And, Altria (MO) sells more of it than any other company in the world.
Some investors don’t want to own shares in a tobacco company, and, that is their business.
Altria shares are flat over the last three months. But, the company has gotten rid of Kraft (KFT) which has troubles due to owning some food line that are not doing well and because of high commodity prices.
The big tobacco company made $6.5 billion in operating income during the first six months of the year on $36.4 billion in revenue. Of that revenue, $27.2 billion came from overseas, where people still smoke. Operating income from international sales was $4.4 billion.
The company has a 4% yield, and, as far as anyone can tell, does not own any mortgage related securities or private equity loans.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
