Goldman Sachs Adds 2 Blue Chip Dividend Giants to Its List of Top Stock Picks
24/7 Wall St. Insights Goldman Sachs is one of the premier investment banks in the world. Dividend stocks will be in demand as interest rates fall over the next two years. Sit back and let dividends do the heavy lifting…
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24/7 Wall St. Insights
- Goldman Sachs is one of the premier investment banks in the world.
- Dividend stocks will be in demand as interest rates fall over the next two years.
- Sit back and let dividends do the heavy lifting for a simple, steady path to serious wealth creation over time. Grab a free copy of “7 Things I Demand in a Dividend Stock,” plus get our two best dividend stocks to own today: Access 2 legendary, high-yield dividend stocks Wall Street loves.
The artificial intelligence rally over the last year and a half, led by the so-called Magnificent 7, has been remarkable if you owned those stocks. However, most of the S&P 500 is treading water and likely will not catch up to the hype-driven AI stocks soon.
One thing remains certain: with storm clouds gathering on the economic horizon, the risk of an escalating conflict in the Middle East, and the market once again very overbought, many Wall Street strategists are cautious, predicting modest single-digit gains for the remainder of 2024. However, a significant 20% or more sell-off could also be possible—something we got a taste of in July when the Nasdaq quickly slid into 10% correction territory.
We decided to screen the September Goldman Sachs U.S. Conviction List for new additions with solid total return potential that pay dependable dividends for those seeking passive income. We were not disappointed when the Wall Street behemoth added two blue-chip dividend companies to its Conviction List of top stock ideas.
Why we recommend Goldman Sachs stocks
Goldman Sachs is the acknowledged leader in the investment landscape on Wall Street and worldwide. The firm’s top-notch research department continues to provide clients with the best ideas across the investing spectrum and is likely to continue for years.
Conagra Brands
This is the perfect company for nervous investors. It pays shareholders a big and safe 4.49% dividend. Conagra Brands Inc. (NYSE: CAG | CAG Price Prediction) and its subsidiaries operate primarily as a consumer packaged goods food company in the United States.
The company operates through four segments:
- Grocery & Snacks
- Refrigerated & Frozen
- International
- Foodservice
The Grocery & Snacks segment primarily offers shelf-stable food products through various retail channels.
The Refrigerated & Frozen segment provides temperature-controlled food products through various retail channels.
The International segment offers food products in various temperature states through retail and food service channels outside the United States.
The Foodservice segment offers branded and customized food products, including meals, entrees, sauces, and various custom-manufactured culinary products packaged for restaurants and other food service establishments.
The company sells its products under these familiar brands:
- Birds Eye
- Marie Callender’s
- Duncan Hines
- Healthy Choice
- Slim Jim
- Reddi-Wip
- Angie’s
- BOOMCHICKAPOP
The Goldman Sachs price target for the stock is set at $36.
IBM
The legacy blue-chip tech giant pays a solid 3.30% dividend and offers conservative investors a safer way to play the sector. International Business Machines Corp. (NYSE: IBM) and its subsidiaries provide integrated solutions and services worldwide.
The company operates through four segments:
- Software
- Consulting
- Infrastructure
- Financing
The Software segment offers a hybrid cloud and AI platform that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.
The Consulting segment focuses on skills integration for strategy, experience, technology, and operations by domain and industry.
The Infrastructure segment provides on-premises and cloud-based server and storage solutions and life-cycle services for hybrid cloud infrastructure deployment.
The Financing segment offers client and commercial financing that facilitates IBM clients’ acquisition of hardware, software, and services.
The company has strategic partnerships with various companies, including:
- Hyperscalers
- Service providers
- Global system integrators
- Software and hardware vendors, including Adobe, Amazon Web services, Microsoft, Oracle, Salesforce, Samsung Electronics, SAP, and others
The Goldman Sachs price target for the stock is posted at $220.
Five Tech Stocks That You’ve Never Heard of Pay High-Yield Dividends
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Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad, diverse career, including a stint as creative services director at an NBC affiliate in Austin, Texas, gives him unique insight into the financial industry.
Lee Jackson's journey in the financial industry spans more than 30 years, including nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career spanned pivotal sell-side 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 reflects his resilience and adaptability amid market volatility.
Lee Jackson’s practical financial industry experience, gained through a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing across various platforms. This unique combination allows him to shed light on the intricacies of Wall Street in a way 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.
