Opal Wealth Advisors LLC cut its position in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 54.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 640 shares of the investment management company’s stock after selling 770 shares during the quarter. Opal Wealth Advisors LLC’s holdings in The Goldman Sachs Group were worth $576,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC grew its stake in shares of The Goldman Sachs Group by 4.4% during the 3rd quarter. Rise Advisors LLC now owns 716 shares of the investment management company’s stock worth $644,000 after acquiring an additional 30 shares during the period. James T. Borello RIA raised its stake in The Goldman Sachs Group by 14.7% in the 3rd quarter. James T. Borello RIA now owns 109 shares of the investment management company’s stock valued at $98,000 after acquiring an additional 14 shares during the period. Hanson & Doremus Investment Management raised its stake in The Goldman Sachs Group by 6.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 379 shares of the investment management company’s stock valued at $341,000 after acquiring an additional 23 shares during the period. Perryman Financial Advisory Inc. AD raised its stake in The Goldman Sachs Group by 6.8% in the 3rd quarter. Perryman Financial Advisory Inc. AD now owns 1,941 shares of the investment management company’s stock valued at $1,748,000 after acquiring an additional 123 shares during the period. Finally, Merrion Investment Management Co LLC lifted its holdings in The Goldman Sachs Group by 0.9% during the third quarter. Merrion Investment Management Co LLC now owns 5,854 shares of the investment management company’s stock valued at $5,271,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.
The Goldman Sachs Group Price Performance
The Goldman Sachs Group stock traded down $10.80 during midday trading on Friday, reaching $880.48. 2,376,586 shares of the stock were exchanged, compared to its average volume of 2,349,202. The company’s fifty day moving average is $974.71 and its 200-day moving average is $989.34. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. The firm has a market cap of $256.37 billion, a PE ratio of 12.66, a PEG ratio of 0.94 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 52 week low of $740.01 and a 52 week high of $1,153.99.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same period in the prior year, the company posted $12.25 EPS. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 68.54 EPS for the current year.
The Goldman Sachs Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a $5.00 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio is presently 28.76%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GS. Barclays increased their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Bank of America lifted their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Wall Street Zen lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. UBS Group lowered their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Finally, Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1,051.23.
Read Our Latest Research Report on The Goldman Sachs Group
More The Goldman Sachs Group News
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
- Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
- Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
- Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
- Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
- Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
- Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds
The Goldman Sachs Group Profile
The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.
Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.
Featured Stories
- Five stocks we like better than The Goldman Sachs Group
- ManpowerGroup Stock Sinks on Q3 Results, But Fundamentals Stay Solid
- Does the AI Selloff Put Alphabet’s Breakout in Doubt?
- Bank Earnings Are Mixed—These 2 ETFs Offer Very Different Paths to a Recovery
- 3 Stocks Delivering Bigger Dividends Despite Market Uncertainty
Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.
