The Goldman Sachs Group, Inc. $GS Stock Sold by Grandview Asset Management LLC

Grandview Asset Management LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 36.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,070 shares of the investment management company’s stock after selling 621 shares during the quarter. Grandview Asset Management LLC’s holdings in The Goldman Sachs Group were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Investment Research Partners LLC purchased a new stake in shares of The Goldman Sachs Group in the third quarter valued at $289,000. Smithbridge Asset Management Inc. DE increased its stake in The Goldman Sachs Group by 1.0% in the third quarter. Smithbridge Asset Management Inc. DE now owns 10,722 shares of the investment management company’s stock valued at $9,654,000 after purchasing an additional 109 shares during the last quarter. Secure Asset Management LLC increased its stake in The Goldman Sachs Group by 1.8% in the third quarter. Secure Asset Management LLC now owns 2,314 shares of the investment management company’s stock valued at $2,083,000 after purchasing an additional 42 shares during the last quarter. Fairvoy Private Wealth LLC lifted its position in The Goldman Sachs Group by 55.4% during the third quarter. Fairvoy Private Wealth LLC now owns 5,183 shares of the investment management company’s stock worth $4,667,000 after buying an additional 1,848 shares during the period. Finally, Teamwork Financial Advisors LLC lifted its position in The Goldman Sachs Group by 1.7% during the third quarter. Teamwork Financial Advisors LLC now owns 13,767 shares of the investment management company’s stock worth $12,396,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs and Evercore are reportedly exploring evergreen continuation funds that would allow private-equity firms to hold assets for 10 to 15 years or longer. These structures could create additional advisory, financing and asset-management opportunities for GS. Goldman, Evercore Explore Funds That Would Let PE Firms Hold Assets for 15 Years
• Positive Sentiment: Goldman continues to forecast a year-end rally for the S&P 500, suggesting a potentially supportive backdrop for its investment-banking, trading and asset-management businesses. Goldman Sachs is still betting on a nice year-end rally for the S&P 500
• Positive Sentiment: Goldman’s upgrade of AI infrastructure provider CoreWeave to Buy highlights continued demand for its research and investment-banking franchises, although the call does not directly change GS earnings. CoreWeave Stock Gets a Goldman Upgrade

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GS. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Rothschild & Co Redburn increased their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, Bank of America boosted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,050.32.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $875.00 on Tuesday. The Goldman Sachs Group, Inc. has a 52-week low of $743.11 and a 52-week high of $1,153.99. The firm has a fifty day moving average of $971.59 and a 200-day moving average of $990.83. The firm has a market capitalization of $254.77 billion, a P/E ratio of 12.58, a PEG ratio of 0.85 and a beta of 1.29. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $12.25 EPS. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 69.57 EPS 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 issued a $5.00 dividend. This represents a $20.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 28.76%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.