Want $1500 in Passive Income: Invest This Much in Verizon Stock

By Lee Jackson Published Aug 6, 9:50AM EDT

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Want $1500 in Passive Income: Invest This Much in Verizon Stock — © Marko Aliaksandr / Shutterstock.com

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Verizon is a member of the Dow Jones industrial average.
The company also pays the highest dividend in the legacy index.
Grab this free report now: Access 2 legendary, high-yield dividend stocks Wall Street loves.

Passive income is characterized by its ability to generate revenue without requiring the earner’s continuous active effort. That makes it a desirable financial strategy for those seeking to diversify their income streams or achieve financial independence.

Investors looking to buy into stable Dow Jones industrials stocks should consider Verizon Communications, a leading wireless and internet provider. The company’s shares have notably increased in the past month, offering potential shareholders an attractive entry point. Investors may want to also check out these dividend legends.

Verizon Communications

Verizon is an American wireless network operator that previously operated as a separate division of Verizon Communications under the name Verizon Wireless.

This top telecommunications company offers tremendous value, trading at just 8.7 times estimated 2025 earnings and paying investors a hefty 6.42% dividend. Verizon Communications Inc. (NYSE: VZ | VZ Price Prediction), through its subsidiaries, provides communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.

It operates in two segments:

Verizon Consumer Group
Verizon Business Group

The Consumer segment provides wireless services across the wireless networks in the United States under the Verizon and TracFone brands and through wholesale and other arrangements; and fixed wireless access (FWA) broadband through its wireless networks, as well as related equipment and devices, such as:

Smartphones
Tablets
Smartwatches
Wireless-enabled connected devices

The segment also offers wireline services in the Mid-Atlantic and Northeastern United States and the District of Columbia through its fiber-optic network, Verizon Fios product portfolio, and a copper-based network.

The Business segment provides wireless and wireline communications services and products, including:

FWA broadband
Data
Video and conferencing
Corporate networking
Security and managed network
Local and long-distance voice
Network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally

How many shares of Verizon are needed to generate $1,500 in passive income

Passive income with Verizon shares.

Investors looking to generate $1,500 per year in passive income by owning Verizon shares, which pay $2.66 per share each year, would have to buy 564 shares of the stock at current trading prices. That would be approximately a $23,365 purchase, and with the stock looking to break out to a 52-week high, there could be some solid upside potential as well.

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About the Author Lee Jackson →

Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad and diverse career, which included a stint as the creative services director at the NBC affiliate in Austin, Texas, gives him unique insight into the financial industry and world.

Lee Jackson's journey in the financial industry spans over 30 years, with nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career was marked by his presence on the sell side during pivotal Wall Street events, from the dot.com rise and bubble to the Long Term Capital Management debacle, 9/11, and the Great Recession of 2008. This is a testament to his resilience and adaptability in the face of market volatility.

Lee Jackson’s practical financial industry experience, acquired from a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing on various platforms. This unique combination allows him to shed light on the intricacies and workings of Wall Street in a way that only someone with deep insider experience and knowledge can. Moreover, his extensive network across Wall Street continues to provide direct access for him and 24/7 Wall St., a privilege few firms enjoy.

Since 2012, Jackson’s work for 24/7 Wall St. has been featured in Barron’s, Yahoo Finance, MarketWatch, Business Insider, TradingView, Real Money, The Street, Seeking Alpha, Benzinga, and other media outlets. He attended the prestigious Cranbrook Schools in Bloomfield Hills, Michigan, and has a degree in broadcasting from the Specs Howard School of Media Arts.