The Goldman Sachs Group (NYSE:GS) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

The Goldman Sachs Group, Inc. (NYSE:GS) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $926.09 and traded as high as $932.48. The Goldman Sachs Group shares last traded at $927.1140, with a volume of 1,437,640 shares changing hands.

More The Goldman Sachs Group News

Here’s some of the latest news about GS:

• Positive Sentiment: Goldman raised its dividend by 11% and continues substantial share repurchases, a supportive signal for shareholder returns backed by its liquidity position. Article: GS’ Capital Distribution Strategy
• Positive Sentiment: Goldman is joining other lenders in a reported $150 million private-credit deal for a Saudi company, adding to its financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet
• Neutral Sentiment: Goldman analysts reportedly project Anthropic could generate $685 billion in revenue by 2030. That forecast underscores the scale of the potential IPO opportunity, but depends on highly ambitious growth assumptions. Article: Goldman Sees Anthropic Revenue Hitting $685 Billion by 2030

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group dropped their price objective on The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Wells Fargo & Company decreased their target price on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating on the stock in a research report on Friday, September 25th. BMO Capital Markets lowered their target price on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,052.04.

The Goldman Sachs Group Stock Performance

The company has a market capitalization of $267.41 billion, a P/E ratio of 13.33, a PEG ratio of 0.85 and a beta of 1.29. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61. The company has a fifty day moving average price of $926.09 and a two-hundred day moving average price of $956.18.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 20.21%. The business had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. During the same quarter last year, the business earned $12.25 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is 28.76%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Ericka Leslie sold 250 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the transaction, the insider directly owned 10,710 shares of the company’s stock, valued at $9,534,577.50. This trade represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Solomon sold 12,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the transaction, the chief executive officer directly owned 159,180 shares in the company, valued at $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,500 shares of company stock valued at $11,380,508. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the stock. Turim 21 Investimentos Ltda. bought a new stake in The Goldman Sachs Group in the first quarter valued at approximately $25,000. Strive Financial Group LLC increased its position in The Goldman Sachs Group by 316.7% during the 2nd 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 holdings in The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after purchasing an additional 17 shares during the last quarter. Cherry Tree Wealth Management LLC raised its holdings in The Goldman Sachs Group by 100.0% during the 3rd 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 during the last quarter. Finally, Clearstead Trust LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $33,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc. is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide. The company’s businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.