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Recent Articles
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Meta Platforms Expects Significant Capex Growth in 2025
Nov 4, 2024
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Image: Meta’s capital spending continues to be on the rise, but its free cash flow generation remains robust.
Meta Platforms put up excellent third quarter results with strong free cash flow generation. The company’s balance sheet also remains very healthy with a substantial net cash position. However, management spoke of continued capital spending growth, which will weigh on free cash flow generation in the coming periods. The company also noted cost pressures in depreciation and operating expense growth for next year, putting a damper on the excitement surrounding its third-quarter earnings beat. Though cost pressures should be expected, Meta Platforms remains a net-cash-rich, free-cash-flow generating powerhouse.
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Apple’s Fiscal Fourth Quarter Report Shows Strength
Nov 1, 2024
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Image: Apple’s shares continue to flirt with all-time highs.
Apple ended the quarter with $157.7 billion of cash and marketable securities. Total debt totaled $106.6 billion at the end of the quarter. For the twelve months ended September 28, cash flow from operations advanced to $118.3 billion from $110.5 billion in last year’s period, while capital spending fell to $9.4 billion from $11 billion in the year-ago period. Free cash flow of $108.8 billion in the fiscal year easily covered the company’s cash dividends paid of $15.2 billion. Apple bought back $94.9 billion in common stock during the fiscal year. Our fair value estimate stands at $226 per share.
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Dividend Increases/Decreases for the Week of November 1
Nov 1, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Altria Reaffirms 2024 Full Year Guidance
Oct 31, 2024
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Image: Altria’s shares have recovered nicely during 2024.
Altria paid dividends of $1.7 billion and $5.1 billion during the third quarter and the first nine months, respectively. The 4.1% increase in its dividend in August marked the 59th increase during the past 55 years. Management’s guidance calls for a mid-single-digits annual increase in its per-share payout through 2028. We liked Altria’s operating income growth in its Smokeable Products segment in the quarter, and we’re fans of its plans for the dividend the next few years. Altria remains a key idea in the High Yield Dividend Newsletter portfolio.
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