3 Absurdly Cheap Dividend Stocks to Buy and Hold for Years
A good way to maximize your potential returns is by focusing on cheap stocks that also pay dividends. That way, you collect a recurring payout while also setting yourself up for some attractive profits down the road. Three stocks that tick off both checkmarks for investors are Verizon Communications (NYSE: VZ), Cisco Systems (NASDAQ: CSCO), and AbbVie (NYSE: ABBV).
Verizon has been a tough investment to be holding in recent years. Down more than 20% year to date, the stock is on track to potentially do even worse than in 2022 when its shares nosedived by 24%. And the year before that, it was also down 12%. At some point, however, enough becomes enough and the stock is due for a rally.
That time could be coming soon, because while growth stocks have been hot buys this year due to artificial intelligence (AI), there could be worse economic conditions on the way. And as investors look for safety, they might opt for a dividend stock such as Verizon, which despite the bearishness over the past few years still has a robust and highly profitable telecom business.
Source Fool.com
Verizon Communications Inc. Stock
The stock is one of the favorites of our community with 24 Buy predictions and 1 Sell predictions.
With a target price of 41 € there is a slightly positive potential of 7.71% for Verizon Communications Inc. compared to the current price of 38.07 €.
