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High Yield Dividend Newsletter Portfolio Holdings AT&T and Philip Morris International Continue to Shine

publication date: Oct 28, 2019
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Image Shown: AT&T continues to surge higher this year as shares of T converge towards their intrinsic value, a process supported by recent activist investor activity directed towards the company.

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We continue to like the resurgence in AT&T's shares of late. The company is rapidly converging to our $40 per share fair value estimate, and as the company divests assets and pursues deleveraging, its dividend growth profile is enhanced. Shares already yield an enticing 5.3%, too. Philip Morris has rallied considerably since it broke deal talks with Altria, and we believe the company has a relatively lower business risk profile than Altria. Both Philip Morris and Altria have Dividend Cushion ratios below the 1.25x threshold, or GOOD threshold, but given more positive overall trends at Philip Morris, we prefer the company over Altria at this time. Shares of Philip Morris yield a lofty 5.7% at the time of this writing.

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