1,237 The Goldman Sachs Group, Inc. $GS Shares Acquired by Apella Capital LLC

Key Points

• Apella Capital LLC increased its Goldman Sachs stake by 117.6% in the third quarter, purchasing 1,237 additional shares for a total of 2,289 shares valued at approximately $2.03 million. Institutional investors collectively own 71.21% of the company.
• Analyst sentiment remains mixed: Goldman Sachs has an average “Hold” rating and a consensus price target of $1,055.09, despite TD Cowen’s “Strong Buy” initiation and other bullish coverage.
• Goldman Sachs reported quarterly earnings and revenue well above expectations, with EPS of $20.98 versus a $14.47 estimate and revenue of $20.34 billion. The company also raised its quarterly dividend to $5.00 per share, or $20.00 annualized.

Apella Capital LLC grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 117.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,289 shares of the investment management company's stock after purchasing an additional 1,237 shares during the quarter. Apella Capital LLC's holdings in The Goldman Sachs Group were worth $2,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Audent Global Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 10.1% during the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock valued at $4,604,000 after purchasing an additional 479 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in The Goldman Sachs Group in the second quarter worth approximately $53,720,000. Oak Grove Capital LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $1,890,000. Sax Wealth Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 148.7% during the 2nd quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company's stock worth $3,569,000 after buying an additional 2,110 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of The Goldman Sachs Group by 14.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company's stock worth $17,606,000 after buying an additional 2,230 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Key The Goldman Sachs Group News

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

• Positive Sentiment: TD Cowen initiated coverage with a Strong Buy rating, while its broader coverage assigned GS a Buy rating and a $1,050 price target—about 17% above the referenced price. The upgrade provides an additional bullish signal ahead of earnings. Goldman Stock Before Q3 Earnings: Buy Now or Wait for Results?
• Positive Sentiment: Analysts expect third-quarter growth to be supported by resilient equity-trading activity and investment-banking revenue. Goldman is also projected to be a leading contributor to Wall Street’s estimated $19 billion in third-quarter trading revenue. Goldman Sachs expected to lead Wall Street’s trading revenue
• Positive Sentiment: Goldman was reportedly hired by Cinven to help revive a potential $2 billion sale of JLA, highlighting continued investment-banking and advisory activity. Goldman Sachs Hired by Cinven to Revive $2 Billion JLA Sale

Wall Street Analysts Forecast Growth

GS has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an "overweight" rating for the company in a research note on Friday, September 25th. Weiss Ratings raised shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 25th. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a "market perform" rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research note on Sunday, September 13th. Finally, Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $1,055.09.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $895.58 on Friday. The company has a market capitalization of $260.77 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. The company's 50-day moving average is $990.36 and its 200 day moving average is $987.24. 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 fifty-two week low of $740.01 and a fifty-two week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.47 by $6.51. The business 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 quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the company posted $10.91 earnings per share. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 1st. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $4.50. The Goldman Sachs Group's dividend payout ratio (DPR) is 30.87%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.

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