Blending value investing and income investing can be an effective strategy in the long run. This is because value investing (in theory) limits potential downside. And while you wait for the market to warm up to your investment holdings, you can collect generous dividends.

Altria Group (NYSE: MO) and Williams-Sonoma (NYSE: WSM) are off their 52-week highs by 17% and 30%, respectively. Here is why their recent pullbacks could make for great buying opportunities for patient dividend investors.

Generating $20.7 billion in revenue net of excise taxes in 2022, Altria Group is the largest tobacco company with operations solely in the U.S. The bulk of this revenue was generated from its Marlboro premium cigarette brand, which held over 40% of the total U.S. cigarette retail share (42.5% as of Dec. 31). Combining this with its other cigarette brands, Altria commanded 47.9% of the overall U.S. cigarette retail market in 2022.

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Source Fool.com