Buy Telstra and this ASX dividend stock in February

Brokers think these shares could be buys for income investors. Let's see what they are saying.

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Looking for an income boost? Then check out the ASX dividend stocks in this article.

They have recently been named as buys by brokers and are forecast to provide good dividend yields. Here's what analysts are saying about them:

Aspen Group Limited (ASX: APZ)

The first ASX dividend stock that could be a buy according to analysts is Aspen Group.

It is a leading provider of quality affordable accommodation across residential, land lease, and holiday park communities.

Bell Potter is positive on the company and highlights that it has started FY 2025 strongly. It also believes that it is is well-placed to build on this thanks to improving volumes and margins. The broker said:

Strong update from APZ early in FY25 is a positive indicator for the year and further runway ahead with both improving volume and margin. Indeed, APZ remains one of our highest conviction picks across our coverage universe. APZ's affordable market segment (c.40% of Aus households with income <$90k pa) as well as conservative underwriting place it in a strong position to deliver sales and settlements despite challenges others may be facing.

In respect to dividends, Bell Potter is forecasting the company to reward shareholders with dividends per share of 10 cents in FY 2025 and then 10.3 cents in FY 2026. Based on the current Aspen share price of $2.45, this will mean dividend yields of 4.1% and 4.2%, respectively.

The broker currently has a buy rating and $2.75 price target on its shares.

Telstra Group Ltd (ASX: TLS)

Goldman Sachs thinks that Telstra could be an ASX dividend stock to buy.

It is of course Australia's leading telecommunications and information services company with 22.5 million retail mobile services and 3.4 million retail bundle and data services.

Goldman likes the company due to its defensive qualities and positive dividends per share (DPS) outlook. It said:

Our preferred defensive name into CY25; we are confident in its ability to deliver Mobile/InfraCo growth, ongoing cost efficiencies, and strong shareholder returns benefiting from portfolio mgmnt/mid-single digit DPS growth. The 'T30' update in late 2H25 should be a positive catalyst.

Goldman is forecasting fully franked dividends of 19 cents per share in FY 2025 and then 20 cents per share in FY 2026. Based on the current Telstra share price of $3.99, this represents dividend yields of 4.75% and 5%, respectively.

The broker has a buy rating and $4.50 price target on Telstra's shares.

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. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Aspen 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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