Want $1,000 in dividend income? Here’s how much you should invest in Pfizer stock.

Pfizer (PFE -0.60%) The stock has struggled, losing about 28% of its value over the past year. Meanwhile, dividend payments have continued to increase. This combination raises the dividend yield to almost 6%.

Is now your chance to secure a generous source of dividend income?

Earn $1,000 in dividend income with this strategy

At the current dividend yield of 5.9%, you would need to invest about $17,000 in Pfizer stock to earn $1,000 in annual income. If you want to make 1000 dollars monthly If you have an income, you will need to invest approximately $200,000.

Don’t you have anything to invest in? are you okay. You can start with small amounts and gradually build up to $1,000 in passive income. There are two paths to achieve this goal.

First, Pfizer stock likely has significant upside from here. The company’s COVID-19 vaccine, Comirnaty, saw sales decline faster than expected last quarter, leading to a decline in overall performance. For example, total sales were down 19% year over year. However, excluding sales due to COVID-19, actual sales are increase 11%. This suggests that Pfizer’s core business is still healthy despite the slowdown in demand for the COVID-19 vaccine. With a strong pipeline of potential new products, it’s possible the market is overreacting to near-term headwinds.

Second, Pfizer is likely to increase its dividend further in the future. It has already achieved 15 consecutive years of dividend increases. New product launches, such as the upcoming oncology drug Padcev, which could generate billions of dollars in new revenue, will help drive these payouts higher over the long term.

A combination of long-term stock price appreciation and dividend increases can help a small initial investment grow into a sizable nest egg. It may take some patience, but it is very possible to create a $1,000 passive income stream using Pfizer stock.