The Goldman Sachs Group, Inc. $GS Stock: Grandview Asset Management LLC Reduces Position

Grandview Asset Management LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 36.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,070 shares of the investment management company’s stock after selling 621 shares during the period. Grandview Asset Management LLC’s holdings in The Goldman Sachs Group were worth $963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GS. Turim 21 Investimentos Ltda. acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $25,000. Strive Financial Group LLC raised its stake in shares of The Goldman Sachs Group by 316.7% during the second quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 19 shares during the period. BOK Financial Private Wealth Inc. raised its stake in shares of The Goldman Sachs Group by 188.9% during the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 17 shares during the period. Steph & Co. acquired a new position in shares of The Goldman Sachs Group during the first quarter worth $27,000. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 100.0% during the third quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock worth $27,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $875.00 on Tuesday. The Goldman Sachs Group, Inc. has a fifty-two week low of $743.11 and a fifty-two week high of $1,153.99. The business has a 50 day moving average price of $971.59 and a two-hundred day moving average price of $990.83. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82. The firm has a market cap of $254.77 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.85 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 return on equity of 19.55% and a net margin of 15.77%. The company had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same period in the previous year, the business earned $12.25 EPS. The Goldman Sachs Group’s revenue for the quarter was up 23.0% compared to the same quarter last year. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 69.57 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 28.76%.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs and Evercore are reportedly exploring evergreen continuation funds that would allow private-equity firms to hold assets for 10 to 15 years or longer. These structures could create additional advisory, financing and asset-management opportunities for GS. Goldman, Evercore Explore Funds That Would Let PE Firms Hold Assets for 15 Years
• Positive Sentiment: Goldman continues to forecast a year-end rally for the S&P 500, suggesting a potentially supportive backdrop for its investment-banking, trading and asset-management businesses. Goldman Sachs is still betting on a nice year-end rally for the S&P 500
• Positive Sentiment: Goldman’s upgrade of AI infrastructure provider CoreWeave to Buy highlights continued demand for its research and investment-banking franchises, although the call does not directly change GS earnings. CoreWeave Stock Gets a Goldman Upgrade

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. Bank of America upped their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Barclays lifted their price target 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 note on Wednesday, July 15th. BMO Capital Markets cut their price objective on shares of The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a report on Monday. Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Finally, Rothschild & Co Redburn upped their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1,050.32.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.