Altria Is Cashing in Part of Its $12.7 Billion Chip: Here's Why That Makes the Stock a Buy
Tobacco company Altria Group (NYSE: MO) has long owned a 10% stake in Anheuser-Busch InBev, the world's largest beer company. That stake is worth approximately $12 billion today. Recently, Altria announced it was selling up to 40 million of the 197 million shares it holds.
What does this mean for shareholders? I'll give you a hint: Investors should be celebrating this news because they're about to see more cash coming from Altria.
Here are all the reasons to love Altria's decision and why the stock is a buy on this news.
Source Fool.com