Wall Street’s favorite passive income stock and 2 others collecting dividends this week

24/7 Wall St. Perspectives

• Companies that raise their dividends regularly are outstanding ideas for investors.
• Dividend stocks will be favorable as interest rates will decline over the next two years.
• Get this free report now: Access 2 legendary high-yielding dividend stocks that Wall Street loves

After over a decade oIn a low interest rate environment that has reversed significantly over the past two years, many investors continue to turn to stocks for growth potential and solid, reliable dividends. They help provide an income stream equivalent to total return, one of the most influential investment strategies.

We always like it to remind our readers about the impact that total return has on portfolios, as it is one of the best ways to help improve the chances of overall investment success. Again, total return is the combined growth in value of a stock plus dividends. For example, if you buy a stock at $20 that pays a 3% dividend and it goes to $22 in a year, your total return is 13%, which is 10% for stock price growth and 3% for dividends paid.

Three top companies are expected to raise their dividends this week, and one is Wall Street’s favorite passive income stock, so we looked at our 24/7 Wall St. research universe. and we found that they are all rated Buy at some of the top brokerages. While it’s always possible that not all companies will raise their dividends, top analysts expect them to. The data is generally based on the company’s past dividend payout increases. Plus, dividend investors will love this free report.

Altria

Altria is one of the largest manufacturers and distributors of cigarettes and other tobacco-related products in the world.

This tobacco company offers value investors a rich 8.46% dividend and is touted on Wall Street as one of the top passive income stocks investors can own right now. Altria Group Inc. (NYSE: MO) manufactures and sells smoking and oral tobacco products in the United States through its subsidiaries.

The company provides cigarettes mainly under the Marlboro brand, as well as:

• Cigars and pipe tobacco, mainly under the Black & Mild brand
• Smokeless moist tobacco and snus products under the brands Copenhagen, Skoal, Red Seal and Husky
• on! Oral nicotine pouches

He sells his tobacco products primarily to wholesalers, including distributors and large retail organizations such as chain stores.

Altria used to own more than 10% of Anheuser-Busch InBev SA (NYSE: BUD), the world’s largest brewer. The company sold 35 million of its 197 million shares through a global secondary offering. This represents 18% of their holdings, but still leaves 8% of outstanding shares in their back pocket. They also announced a $2.4 billion share buyback plan, partially funded by the sale.

The shareholders are currently paying a whopping 7.74% yield. The company is expected to raise its dividend to $1.02 per share from $0.98.

Avnet

Avnet is a global leader in electronic components and services, guiding makers and manufacturers from design to delivery.

This top stock has been in full swing and is close to hitting a new 52-week high. Avnet Inc. (NASDAQ: AVT) distributes electronic component technology.

The company operates through two segments:

• Electronic components
• Farnell

electronical The Components segment markets, sells and distributes semiconductor, interconnect, passive, electromechanical and other integrated components from electronic component manufacturers.

Also provides support for the design chain, which provides:

• Engineers with technical design solutions; engineering and technical resources to support product design, bill of materials development, and technical education and training
• Supply chain solutions, providing support and logistics services to OEMs, electronic manufacturing service providers and electronic component manufacturers.

In addition, this segment offers embedded solutions such as:

• Technical design
• Integrating and assembling embedded products, systems and solutions primarily for industrial applications
• Embedded display solutions including touch and passive displays
• It develops and manufactures standard boards and industrial subsystems and application-specific devices that enable it to produce systems tailored to specific customer requirements.

This segment serves various markets such as automotive, medical, defense, aerospace, telecommunications, industrial and digital publishing.

Farnell segment distributes kits, tools, electronic and industrial automation components, and test and measurement products to engineers and contractors. It has operations in the Americas, Europe, the Middle East, Africa and Asia.

Investors are currently receiving a dividend of 2.27%. The company is expected to raise the payout to $0.33 from $0.31.

intuit

Intuit is an American multinational business software company specializing in financial software

This company it taps all metrics in the technology sector for accounting needs. Intuit Inc. (NASDAQ: INTU) provides financial management and compliance products and services for consumers, small businesses, the self-employed and accounting professionals in the United States, Canada and elsewhere.

The company operates in four segments:

• Small businesses and the self-employed
• Consumer
• Credit Karma
• ProTax

Small Business & Self-employed segment offers QuickBooks services that include:

• Online financial and business management services and desktop software
• Payroll solutions
• Time tracking
• Merchant Payment Processing Solutions
• Financing for small businesses
• Mailchimp services such as e-commerce, marketing automation and customer relationship management

This segment also offers online QuickBooks services and desktop software solutions including:

• QuickBooks Online Advanced, a cloud-based solution
• QuickBooks Enterprise, a hosted solution
• QuickBooks solution for the self-employed
• Payment processing solutions including credit and debit cards, Apple Pay and ACH payment services
• Small business financing and financing, as well as electronic filing of federal and state income tax returns

consumer segment offers TurboTax income tax preparation products and services.

Credit karma segment provides consumers with a personal finance platform that provides personalized recommendations for home, auto and personal loans, as well as credit cards and insurance products.

ProTax segment provides desktop tax preparation software products Lacerte, ProSeries and ProFile; and ProConnect Tax Online tax products, electronic tax filing service and banking products and related services.

Sell ​​products and services through various sales and distribution channels, including shopping and multi-channel shopping experiences, websites and call centers, mobile app stores and retail and other channels.

The shareholders I currently get a yield of 0.55%. The company is expected to raise its dividend to $1.03 per share from $0.90. A sweet 14% increase.

Six Magnificent Dividend Stocks to Buy Now and Hold Forever

Top three the companies, all rated Buys and favorites of Wall Street analysts, are expected to increase their dividends to shareholders this week. Not only is increasing the dividend and returning capital to investors very prudent, it also shows that the company is doing well and has the earnings and cash flow strength to increase payouts.

∴

The post Wall Street’s Favorite Passive Income Stocks and 2 More That Are Raising Dividends This Week appeared first on 24/7 Wall St.