The Goldman Sachs Group, Inc. $GS Stock Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 71.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369 shares of the investment management company’s stock after selling 931 shares during the period. Chemistry Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $332,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC increased its holdings in The Goldman Sachs Group by 5.6% during the 3rd quarter. Annex Advisory Services LLC now owns 10,813 shares of the investment management company’s stock worth $9,736,000 after purchasing an additional 577 shares during the last quarter. Ellsworth Advisors LLC grew its position in shares of The Goldman Sachs Group by 0.5% in the 3rd quarter. Ellsworth Advisors LLC now owns 9,578 shares of the investment management company’s stock worth $8,623,000 after acquiring an additional 44 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of The Goldman Sachs Group by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,923 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 114 shares in the last quarter. Davidson Capital Management Inc. lifted its stake in The Goldman Sachs Group by 2.2% during the third quarter. Davidson Capital Management Inc. now owns 1,530 shares of the investment management company’s stock worth $1,378,000 after purchasing an additional 33 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its stake in The Goldman Sachs Group by 6.8% during the third quarter. AdvisorNet Financial Inc now owns 2,999 shares of the investment management company’s stock valued at $2,635,000 after purchasing an additional 192 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting The Goldman Sachs Group

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on GS. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a research note on Wednesday, July 15th. Citigroup reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research note on Wednesday. HSBC boosted their price target on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a “hold” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank Of Canada dropped their price target on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating on the stock in a research note on Wednesday. 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1,051.23.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $880.48 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $740.01 and a 1-year high of $1,153.99. The firm has a fifty day simple moving average of $974.71 and a 200-day simple moving average of $989.34. The company has a current ratio of 1.10, a quick ratio of 0.63 and a debt-to-equity ratio of 2.82. The stock has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.94 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.25 EPS. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 68.54 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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

About The Goldman Sachs Group

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.