5 Dividend Stocks to Buy According to Billionaire Ken Fisher

2. Goldman Sachs Group, Inc. (NYSE:GS)

Fisher Asset Management’s Stake Value: $1,682,710,000

Percentage of Fisher Asset Management’s 13F Portfolio: 1.13%

Dividend Yield as of February 6: 2.70%

On January 17, Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend of $2.50 per common share. The dividend is payable on March 30 to stockholders of record at the close of business on March 2. As of February 6, Goldman Sachs Group, Inc. (NYSE:GS) is offering a forward dividend yield of 2.70% and is trading at a PE multiple of 12x.

On January 18, Wells Fargo analyst Mike Mayo revised his price target on Goldman Sachs Group, Inc. (NYSE:GS) to $390 from $400 and maintained an Overweight rating on the shares.

As of the end of Q4 2022, Fisher Asset Management owns 4.9 million shares of Goldman Sachs Group, Inc. (NYSE:GS). The fund’s stake in the company is valued at $1.68 billion and the stock is among Ken Fisher’s top holdings, making up 1.13% of his hedge fund’s portfolio.

Here is what Manole Capital Management had to say about The Goldman Sachs Group, Inc. (NYSE:GS) in its Q3 2022 investor letter:

“Back in 2019, The Goldman Sachs Group, Inc. (NYSE:GS) made a splash in the card industry by working with Apple and MasterCard on a credit card. The actual card is fairly sleek (as you can see below), as customers names are etched into an Apple titanium card. The no-fee card generated a lot of hype, as many early users were quick to post their latest card on various social media sites.

The initial goal of Marcus (back in 2016) was to leverage Goldman’s wonderful name brand and build a full-service digital bank. This card was a large piece of GS’s ambitions to grow its retail banking franchise called Marcus. After 5 years, Marcus now has 14 million customers and $16 billion in loan balances. Surprisingly, Marcus now represents nearly 20% of the firm’s total revenue.

We thought it would be interesting to look how the Apple Card is doing in terms of loans and exposures. With over $100 billion in assets, this has been a successful source of cheap deposits for GS. Despite having an institutional / “white shoe” brand in the investment banking and trading world, GS’s Apple Card has been a disappointment.” (Click here to read the full text)