Pine Valley Investments Ltd Liability Co Sells 539 Shares of The Goldman Sachs Group, Inc. $GS

Pine Valley Investments Ltd Liability Co cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,810 shares of the investment management company’s stock after selling 539 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in The Goldman Sachs Group were worth $8,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GS. Turim 21 Investimentos Ltda. bought a new position in The Goldman Sachs Group during the first quarter worth about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC raised its position in shares of 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 acquiring an additional 23 shares during the period. Steph & Co. acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in The Goldman Sachs Group during the 4th quarter worth approximately $29,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

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 Goldman Sachs Group, Inc. has a 52 week low of $705.55 and a 52 week high of $1,153.99. The company’s 50 day moving average price is $1,054.45 and its two-hundred day moving average price is $962.07. The company has a market capitalization of $305.96 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.91 earnings per share. On average, analysts expect that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a $5.00 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several equities research analysts have commented on GS shares. Dbs Bank upped their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. BMO Capital Markets boosted their price target on shares of 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. Morgan Stanley set a $1,145.00 price objective on The Goldman Sachs Group in a research note on Wednesday, July 15th. Finally, Wall Street Zen downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,062.86.

More The Goldman Sachs Group News

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

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.