Brokers say these ASX dividend shares are buys

Attractive yields are coming from these dividend shares according to analysts.

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If you're looking for ASX dividend shares to buy this week, then you may want to check out the ASX dividend shares listed below.

Both of these shares have recently been named as buys by leading brokers. Here's what you need to know:

Macquarie Group Ltd (ASX: MQG)

The first ASX dividend share that could be a buy is investment bank Macquarie.

Morgans remains positive on the company despite the recent release of underwhelming half-year results. It said:

Overall, we saw this as a soft result that was well below market earnings expectations, although clearly a normalisation in Macquarie Group's operating environment is the key driver here. We lower our MQG FY24F EPS by ~-5%, with slight lifts to other future year earnings.

Morgans now has an add rating and a $182.80 price target.

As for dividends, the broker is now expecting partially franked dividends of $6.71 per share in FY 2024 and $7.01 per share in FY 2025. Based on the current Macquarie share price of $168.22, this will mean yields of 4% and 4.15%, respectively.

Woolworths Limited (ASX: WOW)

Another ASX dividend share that brokers have named as a buy is Woolworths Group. It is the retail giant behind the Woolworths supermarkets and Big W brands, among others.

Goldman Sachs' analysts "believe the business has among the highest consumer stickiness and loyalty among peers, and hence has strong ability to drive market share gains via its omni-channel advantage, as well as pass through any cost inflation to protect its margins."

Goldman currently has a conviction buy rating and a $42.40 price target on Woolworths shares.

In respect to income, the broker is forecasting fully franked dividends per share of $1.49 in FY 2024 and $1.63 in FY 2025. Based on the current Woolworths share price of $34.90, this will mean yields of 4.25% and 4.7%, respectively.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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