Goldenstone Wealth Management LLC Purchases New Shares in The Goldman Sachs Group, Inc. $GS

Goldenstone Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 988 shares of the investment management company’s stock, valued at approximately $868,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dagco Inc. bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $25,000. Manning & Napier Advisors LLC lifted its position in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $31,000. Entrust Financial LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $34,000. Finally, Joseph Group Capital Management bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $37,000. Institutional investors own 71.21% of the company’s stock.

Insider Activity

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the sale, the insider owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This represents a 61.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Up 5.7%

Shares of NYSE GS opened at $981.97 on Thursday. The company has a 50 day simple moving average of $885.93 and a 200 day simple moving average of $882.40. The firm has a market cap of $289.69 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.28. The Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $984.70. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business earned $14.12 EPS. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is currently 32.89%.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs is reportedly set to lead SpaceX’s IPO, a landmark deal that could be the largest ever and bring in significant banking fees. Reuters: Goldman Sachs set to be named lead left underwriter for SpaceX IPO
• Positive Sentiment: Multiple outlets confirmed or repeated the SpaceX lead-underwriter news, adding to investor enthusiasm around Goldman Sachs’ advisory and underwriting franchise. CNBC: SpaceX picks Goldman Sachs to lead record-breaking IPO
• Positive Sentiment: Goldman Sachs also got a target-price boost from CICC Research to $980 with an outperform rating, reinforcing a constructive view on the stock. MarketScreener: CICC adjusts price target on Goldman Sachs
• Neutral Sentiment: Goldman Sachs said global oil stockpiles are being drawn down at a record pace, a view that reflects its macro commentary rather than a direct business update for GS. Financial Post: Goldman Says Oil Drawdowns Hit Record Pace as Buffer Shrinks
• Neutral Sentiment: Other recent headlines show Goldman advising on AI/data-center financing and discussing market volatility, which supports the firm’s visibility but is less immediate for the stock than the SpaceX IPO news. Reuters: Saudi Arabia’s Humain picks Goldman Sachs to advise on data centre financing

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GS. BMO Capital Markets increased their target price on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a “market perform” rating in a report on Monday, April 20th. CICC Research increased their target price on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup increased their target price on shares of The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Dbs Bank increased their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Finally, Evercore dropped their target price on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $943.95.

The Goldman Sachs Group Profile

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.