Founded in 1869,Goldman Sachs is the second-largest investment bank globally in terms of revenue and holds the 55th position on the Fortune 500 list of top U.S. companies by total income. This prominent Wall Street firm delivers financial solutions, advisory support, risk management, and hedging services to its institutional and corporate clients. Furthermore, it offers guidance, investment opportunities, and transaction execution for both institutions and individuals in both public and private markets.
24/7 Wall Street Key Points:
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It is a positive indicator when leading companies such as Goldman Sachs increase price forecasts for stocks that are rated as Buy.
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After a significant rise from the April troughs, the market seems to be overpriced and could be heading for a decline in the fourth quarter.
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Four of our top dividend stocks, which have a Buy rating from Goldman Sachs, all saw their price targets raised by the firm.
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It is alwaysA positive indication when the Goldman Sachs team begins increasingprice targetsOn stocks with a Buy rating. Usually, when a stock is doing well and its target price is raised, it indicates that analysts are confident about its prospects over the next six to twelve months. When we observe substantial price jumps of 10% or more, it's the right moment to inform our readers. Here are four that seem like excellent choices for investors seeking growth and income.
Why we suggest investing in Goldman Sachs shares
Goldman Sachsis considered one of the leading figures in the investment world on Wall Street and globally. The company's exceptional research team consistently offers clients top recommendations across all areas of investing and is expected to keep up this level of excellence for many years ahead.
Altria
Altria GroupInc. (NYSE: MO) is among the leading global manufacturers and sellers of cigarettes and various tobacco products for smoking and oral use. The company provides value investors with a 6.21% dividend return, an attractive buying opportunity, and a generous payout.
Altria providescigarettes mainly sold under the Marlboro label, as well as:
- Cigars and pipe tobacco, mainly under the Black & Mild and Middleton labels
- Moist smoke-free tobacco and snus items from the Copenhagen, Skoal, Red Seal, and Husky labels
- on! Oral nicotine pouches
- e-cigarette products under the NJOY ACE brand
It sells itsTobacco goods are mainly sold to wholesalers, such as distributors and major retail entities, like chain stores.
Altria usedto hold more than 10% of Anheuser-Busch InBev S.A. (NYSE: BUD, the world's largest brewer. In March 2024, the company sold 35 million of its 197 million shares via a global secondary offering. This accounts for 18% of its stake but still leaves 8% of the outstanding shares remaining in its reserves. Altria also revealed a $2.4 billion stock buyback program, partly financed by the sale.
Goldman Sachshas raised its price forecast to $72 from $65.
Amphenol
This off-the-radarOne of the leading companies in its sector, technology play offers a modest dividend of 0.53%. Amphenol Corp. (NYSE: APH) is a designer, creator, and promoter of electrical, electronic, and fiber optic connectors and interconnection systems, antennas, sensors, and sensor-related items, as well as coaxial and high-speed specialized cables.
The companyfunctions through three divisions. The Harsh Environment Solutions division develops, produces, and sells a variety of durable connection products and other items for use in these and other sectors:
- Industrial
- Defense
- Commercial aerospace
- Automotive
- Mobile networks
- Medical
Its Communications Solutionssegment develops, produces, and promotes a variety of connector and interconnection systems intended for application in the information technology and data communication sectors, mobile devices, industrial applications, mobile networks, broadband communication, automotive industry, commercial aviation, and defense fields.
Amphenol's Interconnectand the Sensor Systems division develops, produces, and sells various sensors, sensor-related systems, connectors, and enhanced interconnection solutions.
The Goldman SachsThe stock's price target increased by 14%, reaching $139 from $124.
Bank of New York Mellon
This is theThe longest-standing company in the Fortune 500 list offers a reliable dividend yield of 1.77%. The Bank of New York Mellon Corp. (NYSE: BK) is a worldwide financial services firm. Its areas of operation consist of:
- Securities Services
- Market and Wealth Services
- Investment and Wealth Management
The SecuritiesThe services business segment includes Asset Servicing and Issuer Services, which provide comprehensive business solutions throughout the entire transaction lifecycle for its international clients, such as asset owners and asset managers.
The Marketand the Wealth Services division includes three areas of operation:
- Pershing
- Treasury Services
- Clearance and Collateral Management offers business services and technological solutions
Its InvestmentThe Wealth Management business segment delivers a wide range of investment approaches, either on its own or via its international distribution system, serving both institutional and individual clients across the globe. It offers services such as investment management, asset custody, wealth and estate planning, private banking, and financial advisory solutions.
The $106Goldman Sachs has set a new price target of $120.
BorgWarner
This companyis a long-standing favorite at Goldman Sachs and offers a reliable 1.0% dividend. BorgWarner Inc. (NYSE: BWA) is involved in clean technology solutions for combustion, hybrid, and electric vehicles.
The company operates in four segments:
- The Turbos & Thermal Technologies' offerings encompass turbochargers, e-boosters, e-turbos, emission control systems, thermal management solutions, gasoline ignition technology, intelligent remote actuators, and powertrain sensors, along with other related innovations.
- The products within the Drivetrain & Morse Systems division consist of control modules, friction and mechanical clutch components for automatic transmissions, torque management solutions, as well as rear-wheel drive (RWD) and all-wheel drive (AWD) transfer case systems and coupling mechanisms.
- The PowerDrive Systems division offers a range of power electronic components, including inverters, on-board chargers, DC/DC converters, junction boxes, and additional items.
- Products in the Battery and Charging Systems segment consist of lithium-ion battery systems designed for electrified buses, trucks, and off-highway vehicles, as well as DC fast chargers that are compatible with all kinds of electric vehicles.
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