Apollon Wealth Management LLC Acquires 1,109 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Apollon Wealth Management increased its Goldman Sachs position by 3.4% in the second quarter, adding 1,109 shares to hold 33,571 shares valued at approximately $33.95 million. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs agreed to acquire ETF manager NEOS Investments for up to $2.25 billion, gaining access to more than $30 billion in options-based ETFs, including Bitcoin- and Ethereum-linked income products.
• Goldman reported strong quarterly results, with EPS of $20.98 and revenue of $20.34 billion, while raising its quarterly dividend to $5.00 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,062.86.

Apollon Wealth Management LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,571 shares of the investment management company's stock after purchasing an additional 1,109 shares during the quarter. Apollon Wealth Management LLC's holdings in The Goldman Sachs Group were worth $33,953,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. WT Wealth Management purchased a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $3,427,000. Retireful LLC raised its stake in The Goldman Sachs Group by 5.0% during the second quarter. Retireful LLC now owns 337 shares of the investment management company's stock valued at $341,000 after buying an additional 16 shares during the last quarter. Atlatl Advisers LLC bought a new stake in The Goldman Sachs Group in the second quarter worth $157,000. Confluence Wealth Services Inc. grew its position in The Goldman Sachs Group by 31.4% during the 2nd quarter. Confluence Wealth Services Inc. now owns 778 shares of the investment management company's stock valued at $787,000 after purchasing an additional 186 shares during the last quarter. Finally, Lee Financial Co purchased a new position in The Goldman Sachs Group in the second quarter worth about $220,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs agreed to acquire ETF manager NEOS Investments for up to $2.25 billion in cash and equity. NEOS manages more than $30 billion across 19 options-based ETFs, giving Goldman an immediate presence in the fast-growing active ETF, income-generation and downside-management markets. The transaction is expected to close in the first quarter of 2027. Goldman Sachs to buy ETF manager NEOS in $2.25bn deal
• Positive Sentiment: The deal also adds NEOS’s Bitcoin- and Ethereum-linked income ETFs to Goldman’s product lineup, supporting its broader push into alternatives, digital assets and wealth-management products. Greater assets under management could provide recurring fee revenue over time. Goldman Sachs is paying $2.25 billion to get into Bitcoin income game
• Positive Sentiment: Goldman is reportedly courting banks, insurers, asset managers and private-credit firms to participate in Nvidia’s $500 billion AI infrastructure financing initiative. Its involvement could generate underwriting, placement and advisory fees while strengthening a longstanding relationship with Nvidia. Goldman Sachs Mobilizes Investors for Nvidia’s $500 Billion AI Infrastructure Push
• Neutral Sentiment: The latest news does not disclose Goldman’s expected revenue from either initiative. Investors may therefore focus on whether the substantial NEOS purchase price can translate into sufficient growth and whether the Nvidia financing can be executed without adding excessive risk.

The Goldman Sachs Group Stock Down 0.4%

Shares of GS stock opened at $1,038.81 on Friday. The Goldman Sachs Group, Inc. has a one year low of $705.55 and a one year high of $1,153.99. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $302.47 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.05 and a beta of 1.30. The company's fifty day moving average price is $1,054.35 and its 200-day moving average price is $961.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts' consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to analysts' expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the firm earned $10.91 earnings per share. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm 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. This represents a $20.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 1st. 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 is currently 27.78%.

Wall Street Analyst Weigh In

GS has been the topic of several recent analyst reports. BNP Paribas Exane cut their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research note on Friday, April 24th. HSBC upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Citigroup raised their price target on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Oppenheimer downgraded The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a report on Tuesday, June 30th. Finally, Rothschild & Co Redburn upped their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,062.86.

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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source