There are a lot of ASX dividend stocks to choose from on the local market.

To narrow things down, let's look at two dividend stocks that analysts at Goldman Sachs are bullish on.

Here's what the broker is saying about these income options:

GQG Partners Inc (ASX: GQG)

The first ASX dividend stock that Goldman Sachs is tipping as a buy is GQG Partners.

It is a global investment company with a focus on managing active equity portfolios. At the last count, GQG Partners was managing US$153 billion on behalf of investors that include many large pension funds, sovereign funds, wealth management firms, and other financial institutions around the world.

Goldman remains positive on the company despite its investments in the troubled Adani Group. Especially given its strong investment performance and attractive valuation. The broker recently said:

We are Buy rated on GQG because: 1) Net flow trajectory has been very strong but has slowed 2) Strong performance has resulted in performance fees becoming increasingly more material 3) Medium and long term relative performance strong 4) Attractive valuation vs. peers in context of very strong earnings growth. 5) Impacts from Adani entity investments appear manageable.

As for income, Goldman is forecasting some very large dividend yields. It expects dividends per share of 13 US cents (20.9 Australian cents) in FY 2025, 14 US cents (22.5 Australian cents) in FY 2025 and then 15 US cents (24.1 Australian cents) in FY 2026. Based on its current share price of $2.10, this would mean large dividend yields of 10%, 10.7%, and 11.5%, respectively.

Goldman has a buy rating and $3.00 price target on its shares.

NIB Holdings Limited (ASX: NHF)

Another ASX dividend stock that Goldman Sachs is positive on is NIB Holdings.

It provides health and medical insurance to over 1.6 million Australian and New Zealand residents. It also provides health insurance to around 200,000 international students and workers in Australia.

Goldman likes the company due to its defensive earnings and favourable operating environment. It recently said:

We are Buy-rated on NHF given: 1) It offers defensive exposure to the private health insurance sector 2) The claims environment (utilisation / inflation) is generally manageable albeit until recently 3) NHF policyholder growth has been better than industry, 4) Expense buffers available to support margins and 5) Strong approved rate increases.

In respect to income, Goldman is forecasting NIB to pay fully franked dividends of 26 cents per share in FY 2025, 30 cents per share in FY 2026, and then 33 cents per share in FY 2027. Based on its current share price of $5.61, this equates to dividend yields of 4.6%, 5.3%, and 5.9%, respectively, for income investors.

Goldman currently has a buy rating and $6.50 price target on its shares.