An Amazon truck drives on a freeway. Sundry Photography/iStock Editorial via Getty Images As long-time readers know, the crux of my investing strategy revolves around buying and holding dividend growth stocks for the long haul. For the most part, these tend to sport dividend yields between 0.
5% and 4%. The weighted average dividend yield of my portfolio is currently 3.3%.
This is an approach I largely don't plan on changing. I am 27 years old, though. Since I don't plan on living off my dividends for quite a while longer, I do have time to let those dividends compound.
So, I have been putting more emphasis on high-quality, hypergrowth stocks like Amazon ( NASDAQ: AMZN ) and Nvidia ( NVDA ) in recent years. Despite just adding the latter in May, Nvidia has grown to 2% of my portfolio already. I plan on upping this substantially over time (to at least 6% to 7%).
Amazon is the focus of today's article and comprises 3% of my portfolio. Like Nvidia, this one is under the S&P 500 index's ( SP500 ) weighting of almost 4%. So, I'd like to ideally get this one above a 4% weighting over time.
Since I last covered Amazon with a strong buy rating in February , shares have rallied 12%. That's just above the 11% gains posted by the S&P in that time. Today, I'm reiterating my strong buy rating on shares of Amazon.
The company's first-quarter results demonstrated that its growth prospects are intact. Amazon's already vigorous balance sheet has markedly improved in the past 12 months. Even wi.
