Geode Capital Management LLC Grows Stock Position in The Goldman Sachs Group, Inc. $GS

Geode Capital Management LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,726,721 shares of the investment management company’s stock after purchasing an additional 45,266 shares during the quarter. Geode Capital Management LLC’s holdings in The Goldman Sachs Group were worth $5,896,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Acropolis Investment Management LLC increased its position in shares of The Goldman Sachs Group by 1.8% during the 4th quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock valued at $554,000 after purchasing an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its position in shares of The Goldman Sachs Group by 2.0% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock valued at $505,000 after purchasing an additional 11 shares during the last quarter. Optas LLC increased its position in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock valued at $2,244,000 after purchasing an additional 11 shares during the last quarter. Pines Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after purchasing an additional 11 shares during the last quarter. Finally, Terra Nova Asset Management LLC increased its position in shares of The Goldman Sachs Group by 0.5% during the 4th quarter. Terra Nova Asset Management LLC now owns 2,650 shares of the investment management company’s stock valued at $2,329,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs increased its S&P 500 outlook to 8,000, signaling confidence in earnings momentum and helping reinforce a constructive market backdrop. MarketWatch article
• Positive Sentiment: Goldman’s AI-related research continues to get traction, with its call that Nvidia and Micron are major beneficiaries of the next earnings cycle strengthening Goldman’s visibility in one of the market’s hottest themes. Benzinga article
• Positive Sentiment: SpaceX chose Goldman Sachs as lead underwriter for its planned IPO, a potentially landmark mandate that highlights Goldman’s strength in high-profile capital markets deals. Seeking Alpha article
• Neutral Sentiment: Several companies announced presentations at Goldman Sachs’ upcoming Global Healthcare Conference, which supports the firm’s event pipeline but is unlikely to move GS shares by itself. Business Insider article
• Neutral Sentiment: Coverage about Goldman’s analysts discussing Treasury demand, European equities, and AI bottlenecks mostly reflects the firm’s macro research activity rather than a direct business catalyst for GS stock. Financial Post article

The Goldman Sachs Group Trading Up 0.1%

Shares of NYSE:GS opened at $995.28 on Thursday. The stock has a 50 day moving average of $904.97 and a 200 day moving average of $889.62. The company has a market cap of $293.62 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a 12-month low of $592.17 and a 12-month high of $1,016.53.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company had revenue of $17.23 billion for the quarter, compared to analysts’ expectations of $16.66 billion. During the same period in the previous year, the firm earned $14.12 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GS. BNP Paribas Exane cut their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Royal Bank Of Canada reiterated a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. UBS Group boosted their price objective on The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. Finally, Dbs Bank boosted their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $943.95.

The Goldman Sachs Group Company 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.