Goldman Sachs Dividend Stocks: Top 5 Stock Picks

In this article, we discuss top 5 dividend stock picks of Goldman Sachs. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read Goldman Sachs Dividend Stocks: Top 12 Stock Picks.

5. Exxon Mobil Corporation (NYSE:XOM)

Goldman Sachs’ Stake Value: $1,683,822,726
Dividend Yield as of August 16: 3.34%

An American energy company, Exxon Mobil Corporation (NYSE:XOM) is next on our list of the best Goldman Sachs dividend stocks to consider. The company maintains a 40-year streak of consistent dividend growth and currently pays a quarterly dividend of $0.91 per share. The stock’s dividend yield on August 16 came in at 3.34%.

Goldman Sachs owned over 15 million shares in Exxon Mobil Corporation (NYSE:XOM) at the end of Q2 2023, worth over $1.68 billion. The company represented 0.33% of the bank’s portfolio.

The number of hedge funds tracked by Insider Monkey owning stakes in Exxon Mobil Corporation (NYSE:XOM) stood at 71 in Q2 2023, valued at over $3.08 billion in total.

4. Johnson & Johnson (NYSE:JNJ)

Goldman Sachs’ Stake Value: $1,700,591,892
Dividend Yield as of August 16: 2.73%

At the end of Q2 2023, Goldman Sachs owned over 10.2 million shares in Johnson & Johnson (NYSE:JNJ), worth over $1.7 billion. The company made up 0.34% of the bank’s portfolio. It is among one of the best Goldman Sachs dividend stocks to consider.

Johnson & Johnson (NYSE:JNJ) holds a 62-year track record of consistent dividend growth. The company currently offers a quarterly dividend of $1.19 per share for a dividend yield of 2.73%, as of August 16.

At the end of the June quarter of 2023, 88 hedge funds in Insider Monkey’s database owned investments in Johnson & Johnson (NYSE:JNJ), up from 86 in the previous quarter. The consolidated value of these stakes is over $4.1 billion.

3. Cisco Systems, Inc. (NASDAQ:CSCO)

Goldman Sachs’ Stake Value: $1,740,886,006
Dividend Yield as of August 16: 2.93%

Cisco Systems, Inc. (NASDAQ:CSCO) is an American tech company that is also a leading provider of network solutions in the country. The company pays a quarterly dividend of $0.39 per share and its dividend yield on August 16 came in at 2.93%. It is one of the best Goldman Sachs dividend stocks on our list with a 12-year streak of consistent dividend growth under its belt.

At the end of Q2 2023, 55 hedge funds tracked by Insider Monkey were long Cisco Systems, Inc. (NASDAQ:CSCO). The stakes owned by these elite funds have a collective value of over $1.4 billion. With roughly 11 million shares, AQR Capital Management was the company’s largest stakeholder in Q2.

2. Broadcom Inc. (NASDAQ:AVGO)

Goldman Sachs’ Stake Value: $1,967,842,751
Dividend Yield as of August 16: 2.17%

Broadcom Inc. (NASDAQ:AVGO) is a global tech company that designs and manufactures a wide range of semiconductor and infrastructure software solutions for various industries. The company has been raising its dividends consistently for the past 12 years, which makes it one of the best Goldman Sachs dividend stocks to consider. It currently offers a quarterly dividend of $4.60 per share with a dividend yield of 2.17%, as of August 16.

At the end of Q2 2023, Goldman Sachs owned an AVGO stake worth nearly $2 billion.

As of the close of Q2 2023, 72 hedge funds in Insider Monkey’s database owned investments in Broadcom Inc. (NASDAQ:AVGO), the same as in the previous quarter. The total value of stakes owned by these elite funds is roughly $4.2 billion.

1. The Procter & Gamble Company (NYSE:PG)

Goldman Sachs’ Stake Value: $2,073,090,924
Dividend Yield as of August 16: 2.48%

The Procter & Gamble Company (NYSE:PG) tops our list of the best Goldman Sachs dividend stocks as the bank held over $2.07 billion worth of stakes in the company at the end of Q2 2023. The company represented 0.41% of the bank’s portfolio.

The Procter & Gamble Company (NYSE:PG) has grown its dividends for 67 consecutive years and currently pays a quarterly dividend of $0.9407. The stock offers a dividend yield of 2.48%, as of August 16.

At the end of June 2023, 74 hedge funds tracked by Insider Monkey owned stakes in The Procter & Gamble Company (NYSE:PG), worth over $5.3 billion.

You can also take a look at Goldman Sachs Bank Stocks: Top 10 Stock Picks and 10 Best Warehouse and Self-Storage Stocks To Buy

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