Pine Valley Investments Ltd Liability Co Has $8.91 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Pine Valley Investments Ltd Liability Co reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,810 shares of the investment management company’s stock after selling 539 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in The Goldman Sachs Group were worth $8,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Turim 21 Investimentos Ltda. acquired a new position in The Goldman Sachs Group during the first quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $26,000. Manning & Napier Advisors LLC increased its stake in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after buying an additional 23 shares during the last quarter. Steph & Co. bought a new stake in The Goldman Sachs Group during the 1st quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $29,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 1.1%

Shares of GS stock opened at $1,050.79 on Tuesday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day moving average is $1,054.45 and its 200-day moving average is $962.07. The stock has a market cap of $305.96 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.05 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $705.55 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The Goldman Sachs Group’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $10.91 earnings per share. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is presently 27.78%.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman’s view that a September rate hike is unlikely helped lift broader risk sentiment and could benefit GS through stronger trading, capital-markets and dealmaking conditions. The firm also said markets may still be too hawkish as inflation cools. Odds of Fed Rate Hike This Year Fall as Goldman Sachs Warns Against Hawkish Bets
• Positive Sentiment: GS remains positioned as a potential earnings outperformer: analysts identified it among five highly ranked stocks expected to beat consensus estimates in upcoming results. That view follows the company’s latest quarterly report, which significantly exceeded earnings and revenue expectations. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Neutral Sentiment: Goldman’s research highlighted that artificial intelligence was mentioned by 65% of S&P 500 companies during second-quarter earnings calls, but only a small fraction quantified its earnings impact. The finding reinforces GS’s role in AI-related market research while suggesting that near-term corporate profit benefits remain uncertain. 65% of S&P 500 companies mentioned AI on Q2 earnings calls
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from higher tax refunds fades. A consumer slowdown could weigh on economic activity, credit demand and investor confidence, partially offsetting the benefits of easier financial conditions. Goldman Sachs warns of consumer spending slowdown as tax refund boost fades

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Oppenheimer lowered The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a research report on Wednesday, July 15th. UBS Group boosted their price target on The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, Daiwa Securities Group upped their price objective on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.86.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.