Here Are 3 Top High-Yield Dividend Stocks To Check Out Right Now
As talks of a recession continue, investors could be looking to turn to high-yield dividend stocks in the stock market today. As major indices performed poorly in the first half of the year, some investors may be searching for more conservative investments for their portfolios. Now, no one likes a bear market, but they provide investors who are looking for passive income with potential opportunities.
Comparable to bonds, if a stock price declines dividend yields increase. This means investing in the best high-yield dividend stocks could offer investors an opportunity to add a defensive sentiment to their portfolios. These companies usually have shown long-term growth, with stable returns. Dividend stocks also provide relief to investors looking to protect their portfolios as we may head into a recession.
Dividend stocks may not be immune to the downturn in the stock market. Investing in more established companies is considered an inflation hedge. Broad-based sell-offs in the market potentially create more opportunities to buy quality stocks at a discount. With that being said, here are some top dividend stocks to watch in the stock market this week.
Best High-Yield Dividend Stocks To Watch Now
- Big Lots (NYSE: BIG)
- Altria Group (NYSE: MO)
- AbbVie Inc. (NYSE: ABBV)
Big Lots
First, up on the list, we will be taking a look at home essentials retailer, Big Lots Inc. Headquartered in Columbus, Ohio Big Lots has grown to become one of America’s leading home discount retailers and a Fortune 500 company. The company operates 1,440 stores nationwide, and online through its best-in-class eCommerce platform. BIG offers an extensive variety of products including furniture, seasonal, soft home, food, consumables, and hard home. Due to Big Lots’ broad retail offerings, BIG stock could be a potential play for retail investors in light of an economic downturn. Shares of BIG stock have already more than tripled in value since its pandemic era low. The company currently has a 5.32% dividend yield.
Big Lots reported its Q1 2022 results back on May 27th, 2022. In those earnings, they reported a net loss of $11.1 million, or $0.39 per share, for the first quarter of fiscal 2022 ended April 30, 2022. This is in line with the company’s guidance, provided on March 3, 2022, of $1.10 to $1.20 net income per diluted share. Net income for the first quarter of fiscal 2021 was $94.6 million, or $2.62 per diluted share.
“Our business has grown significantly over the past two years as we benefitted not only from home-related spending but from the positive growth fueled by our Operation North Star initiatives. We have greatly improved our customer shopping experience, evidenced by an all-time high Net Promoter Score of 85% in Q1. E-commerce remains a standout, and now accounts for over 7% of our sales, with same-day deliveries growing 20% over last year,” stated CEO Bruce Thorn.
Moving along, Big Lots continues to adapt its business strategy to shifting market dynamics. This is evident in its wide selection of e-commerce services. This includes its buy online pick up in-store, curbside pickup, and same-day delivery solutions to name a few. With all this in mind, would you consider adding BIG stock to your watchlist this week?
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Altria Group
Next on our list is Altria Group, Inc. They are one of the world’s largest producers and marketers of tobacco, cigarettes, and related products. Most notably, its subsidiary Philip Morris USA Inc. is one of the most profitable U.S. cigarette manufacturers. Along with John Middleton Co. a leading cigar manufacturer. Aside from the company having a leading portfolio of tobacco products in the U.S. market, it is been working on transitioning to a smoke-free future. The company is achieving this through its initiative Moving Beyond Smoking strategy by 2030. The company has a strong dividend yield of 8.75% and cash flows from its core business.
Recently, the company received news that the U.S. Food and Drug Administration (FDA) has temporarily suspended its ban on Juul’s e-cigarette products. Altria currently has a 35% stake in Juul. The news will permit the company to keep its products on the market as they look to appeal the FDA’s ban. The ban was first issued on June 23 to ban Juul sales. The next day, a federal appeals court temporarily blocked the government ban. The ban was part of an effort by the FDA to bring scientific scrutiny to the vaping industry after years of regulatory delays. Juul reported that it has already submitted enough information and data to address all related concerns.
The company announced it will host a live audio webcast to report its 2022 second-quarter and first-half business results. This will take place Thursday, July 28th, 2022, at 9:00 am EST. Year-to-date the price of MO stock has fallen over 11% to $42.38. With such strong cash flow and dividend yield, investors might be looking to add shares of MO stock at a discount. As such, will you be adding MO stock to your watchlist of dividend stocks to watch in the stock market today?
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AbbVie Inc.
AbbVie is a biopharmaceutical company that was a spin-off from Abbott Laboratories (NYSE: ABT) back in 2013. Following that, the company has increased its payout by more than 250%. The company discovers, develops, and commercializes advanced therapies. Today, it has about 50,000 employees working all around the globe to help patients. On Wednesday, the company announced an exciting piece of news.
In it, they announced a strategic transaction to develop and commercialize iSTAR Medical’s MINIject device to help treat glaucoma. The terms of the agreement state, that iSTAR Medical will receive a $60 million investment from AbbVie. AbbVie will now hold the exclusive rights to acquire iSTAR Medical. “As a leading company in eye care with a commitment to a broad and diverse portfolio from the front to the back of the eye, along with our global footprint and infrastructure in glaucoma, we are well-positioned to support bringing this MIGS offering to patients and glaucoma specialists through this strategic alliance,” stated Michael Robinson, M.D, Vice President, Global Therapeutic Area Head of Eye Care, AbbVie. He continued, “This alliance with iSTAR Medical is an important step as we continue to be an innovator in glaucoma by maximizing the value of interventional approaches throughout the treatment paradigm.“
The company seems to be firing on all cylinders and has a current annual dividend yield of 3.80%. Shares of ABBV stock are up over 4% year-to-date. With that being said, is ABBV stock worth adding to your watchlist right now?
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