1 Magnificent S&P 500 Dividend Stock Down 14% to Buy and Hold Forever

1 Magnificent S&P 500 Dividend Stock Down 14% to Buy and Hold Forever

Key PointsAltria’s core market is shrinking, but its business is evolving.The company is expanding its smoke-free portfolio and aggressively trimming its expenses.Altria's low valuation and high yield make it a good defensive play in a messy market.10 stocks we like better than Altria Group › The S&P 500 has risen about 16% this year and is hovering near its all-time high. It looks historically expensive at 31 times earnings, and plenty of near-…