There are plenty of ASX 200 dividend shares to choose from on the Australian share market.

To narrow things down, I have picked out two that have been named as buys by brokers recently. Here’s what they are saying about them:

Harvey Norman Holdings Limited (ASX: HVN)

The first ASX 200 dividend share to consider buying is retail giant Harvey Norman.

Its shares have been hammered recently amid concerns over the impact of the cost of living crisis and housing market weakness on its sales.

One broker that believes the selling has been overdone is Goldman Sachs. In fact, the broker highlights that its shares look dirt cheap in comparison to rival JB Hi-Fi Limited (ASX: JBH) when you adjust for its property portfolio. It explained:

[P]roperty valuation of A$3.3 (avg. of book value and 6.0% cap-rate) represents ~70% of market cap. Ex-prop HVN trades at 6.0x FY24 P/E vs JBH at 14.5x, which faces similar consumer softening risk.

Goldman currently has a buy rating and $4.70 price target on the retailer’s shares.

As for dividends, the broker is expecting fully franked dividends per share of 36 cents in FY 2023 and then 30 cents in FY 2024. Based on the current Harvey Norman share price of $3.77, this will mean yields of 9.5% and 8%, respectively.

Macquarie Group Ltd (ASX: MQG)

Another ASX 200 dividend share that could be a buy next week is investment bank Macquarie.

Morgans is a fan of the company and believes it is well-placed to benefit from market volatility. It also sees structural growth opportunities for the bank. It commented:

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.

The broker has an add rating and $222.80 price target on the company’s shares.

In respect to dividends, Morgans is expecting partially franked dividends of $8.28 per share in FY 2023 and $7.64 per share in FY 2024. Based on the current Macquarie share price of $175.79, this will mean yields of 4.7% and 4.35%, respectively.

The post Buy Macquarie and this high yield ASX dividend share: brokers appeared first on The Motley Fool Australia.

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More reading

• Warren Buffett rakes in $9 billion in annual dividend income. Should I buy ASX dividend shares right now?
• Macquarie share price slides amid banking rout, broker tips 24% upside
• Buy Macquarie and this ASX 200 passive income share: analysts
• 5 things to watch on the ASX 200 on Tuesday
• Experts say these fantastic blue chip ASX 200 shares are buys

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 Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman and 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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