Goldman Sachs’ 5 Cheap Dividend Stocks

3. Intel Corporation (NASDAQ:INTC)

Dividend Yield as of November 4: 5.24%

Intel Corporation (NASDAQ:INTC) is a California-based multinational semiconductor company that also deals in cloud computing and data centers. According to Goldman Sachs, the company would be able to grow its dividends by 5.3% in the next two years. It currently pays a quarterly dividend of $0.365 per share for a dividend yield of 5.24%. Intel Corporation (NASDAQ:INTC) has been raising its dividends consistently for the past seven years and has paid dividends for 28 years in a row, which makes it one of the best dividend stocks on our list.

In Q3 2022, Intel Corporation (NASDAQ:INTC) reported revenue of $15.3 billion, which fell in line with Street estimates. For the next quarter, the company expects its revenue to fall between $14 billion to $15 billion versus a consensus of $16.43 billion.

In October, Baird maintained a Neutral rating on Intel Corporation (NASDAQ:INTC) with a $34 price target, appreciating the company’s magnitude for restructuring.

At the end of Q2 2022, 65 hedge funds in Insider Monkey’s database owned stakes in Intel Corporation (NASDAQ:INTC), compared with 76 in the previous quarter. These stakes have a consolidated value of over $2.5 billion. Ken Griffin and Cliff Asness were some of the company’s leading stakeholders in Q2.