Why I Agree With Wall Street and Continue Piling Into This Nearly 8%-Yielding Dividend Stock
(NYSE: VZ) currently offers a monster dividend. Its yield is approaching 8%, driven higher by the continued decline in its stock price. Shares currently sit 20% below their 52-week high, weighed down by myriad concerns.
However, a growing chorus of Wall Street analysts view the sell-off in the telecom stock as a buying opportunity. They believe that the fears surrounding the company are overblown. Furthermore, they think the company can continue increasing its already massive payout.
I wholeheartedly agree. That's why I've been piling into shares this year. Here's a look at what some analysts recently said about Verizon, and why I'm buying the high-yielding dividend stock hand over fist these days.
Source Fool.com
Verizon Communications Inc. Stock
€36.63
-1.090%
The stock is one of the favorites of our community with 23 Buy predictions and 1 Sell predictions.
With a target price of 41 € there is a slightly positive potential of 11.93% for Verizon Communications Inc. compared to the current price of 36.63 €.
