#6 - Verizon Communications (NYSE:VZ)
Verizon Communications Inc. (NYSE: VZ) may be the quintessential dividend stock. It’s a defensive stock in that while Verizon doesn’t produce smartphones and other mobile devices, it charges a monthly fee that allows consumers to use its network. Consumers may hold off on upgrading their devices, but cutting their wireless service will be low on their priority list. That contributes to consistent revenue and earnings.
That defensive positioning allows you to take a long-term view on the stock. For example, the company faces near-term challenges, such as integrating Frontier Communications, which have contributed to the stock's gain of only about 6% in 2024. But when you zoom out, you see the company’s total return of 222.7% in the last 20 years. That's a testament to Verizon's high-yield dividend, which currently sits at 6.73%. And the company’s reliable business model means there likely won’t be any impact on the company’s ability to pay and raise its dividend.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
More- Current Price
- $42.77
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $46.08 (7.7% Upside)
