Goldenstone Wealth Management LLC Takes $868,000 Position in The Goldman Sachs Group, Inc. $GS

Goldenstone Wealth Management LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 988 shares of the investment management company’s stock, valued at approximately $868,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Acropolis Investment Management LLC raised its holdings in shares of The Goldman Sachs Group by 1.8% in the fourth 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 raised its holdings in shares of The Goldman Sachs Group by 2.0% in the fourth 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 raised its holdings in shares of The Goldman Sachs Group by 0.4% in the fourth 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 raised its holdings in shares of The Goldman Sachs Group by 0.4% in the fourth 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 raised its holdings in shares of The Goldman Sachs Group by 0.5% in the fourth 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. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $981.97 on Thursday. The Goldman Sachs Group, Inc. has a one year low of $582.50 and a one year high of $984.70. The company has a market cap of $289.69 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.20 and a beta of 1.28. The firm’s fifty day moving average price is $885.93 and its two-hundred day moving average price is $882.40. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. During the same period in the previous year, the company earned $14.12 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts expect that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

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

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs is reportedly set to lead SpaceX’s IPO, a landmark deal that could be the largest ever and bring in significant banking fees. Reuters: Goldman Sachs set to be named lead left underwriter for SpaceX IPO
• Positive Sentiment: Multiple outlets confirmed or repeated the SpaceX lead-underwriter news, adding to investor enthusiasm around Goldman Sachs’ advisory and underwriting franchise. CNBC: SpaceX picks Goldman Sachs to lead record-breaking IPO
• Positive Sentiment: Goldman Sachs also got a target-price boost from CICC Research to $980 with an outperform rating, reinforcing a constructive view on the stock. MarketScreener: CICC adjusts price target on Goldman Sachs
• Neutral Sentiment: Goldman Sachs said global oil stockpiles are being drawn down at a record pace, a view that reflects its macro commentary rather than a direct business update for GS. Financial Post: Goldman Says Oil Drawdowns Hit Record Pace as Buffer Shrinks
• Neutral Sentiment: Other recent headlines show Goldman advising on AI/data-center financing and discussing market volatility, which supports the firm’s visibility but is less immediate for the stock than the SpaceX IPO news. Reuters: Saudi Arabia’s Humain picks Goldman Sachs to advise on data centre financing

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,681 shares of company stock valued at $31,737,875 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Daiwa Securities Group boosted their target price on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. CICC Research boosted their target price on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $943.95.

The Goldman Sachs Group 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.