Avior Wealth Management LLC Sells 1,153 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Avior Wealth Management reduced its Goldman Sachs stake by 15.8% in the third quarter, selling 1,153 shares and retaining 6,131 shares valued at approximately $5.52 million. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported a strong quarter, with revenue rising 23% year over year to $18.68 billion and EPS of $17.01, significantly exceeding the $12.86 consensus estimate. Equities trading and investment-banking fees were key contributors.
• GS shares opened at $892.43, while analysts maintained a consensus “Hold” rating and an average price target of $1,055.09. Analysts cited mixed trading performance and valuation, inflation, interest-rate and geopolitical risks as potential concerns.

Avior Wealth Management LLC decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 15.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,131 shares of the investment management company's stock after selling 1,153 shares during the quarter. Avior Wealth Management LLC's holdings in The Goldman Sachs Group were worth $5,520,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Strive Financial Group LLC increased its position in shares of The Goldman Sachs Group by 316.7% in 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 last quarter. BOK Financial Private Wealth Inc. raised its holdings in shares of The Goldman Sachs Group by 188.9% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company's stock valued at $26,000 after purchasing an additional 17 shares in the last quarter. Turim 21 Investimentos Ltda. acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. Steph & Co. purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $892.43 on Wednesday. The firm has a market capitalization of $259.85 billion, a PE ratio of 13.80, a P/E/G ratio of 0.98 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 52 week low of $740.01 and a 52 week high of $1,153.99. The firm's 50-day simple moving average is $984.44 and its 200 day simple moving average is $989.10. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $12.25 EPS. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

More The Goldman Sachs Group News

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

• Positive Sentiment: Major earnings beat: Third-quarter revenue rose 23% year over year to $18.68 billion, while net income increased 29% to $5.29 billion. Diluted EPS of $17.01 exceeded the $12.86 consensus estimate by $4.15. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities and investment banking led results: Equities trading revenue surged 72% to $6.44 billion, supported by stronger financing and derivatives activity. Investment-banking fees rose 21% as underwriting and dealmaking recovered. Goldman Q3 Earnings Beat on Strong Equities and IB Revenues
• Positive Sentiment: Wealth management reached a new record: Goldman supervised $2.1 trillion in wealth-management assets and conducted its largest-ever private-wealth-advisor training class, supporting the firm’s longer-term asset-gathering strategy. Goldman Sachs Supervised $2.1 Trillion in Wealth Management Assets
• Neutral Sentiment: CEO David Solomon said there is no succession transition or timetable underway, removing an immediate leadership overhang. He also described Goldman as well positioned despite geopolitical and economic uncertainty. Goldman Sachs profits jump as CEO says no plans to exit
• Negative Sentiment: Mixed business quality and valuation concerns: Fixed-income and rates trading fell short of expectations, total revenue declined sequentially from the prior quarter, and analysts argue the stock already reflects a premium valuation. Persistent inflation, elevated interest rates, geopolitical risks and uncertainty around AI-related financing could also pressure activity and multiples. Goldman Sachs Q3: The Business Deserves a Premium. The Stock Already Has One

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GS shares. Keefe, Bruyette & Woods upped 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 research note on Wednesday, July 15th. 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 stock a "buy" rating in a report on Thursday, July 16th. Citigroup dropped their target price on shares of The Goldman Sachs Group from $1,200.00 to $1,050.00 and set a "neutral" rating for the company in a report on Wednesday, September 23rd. Wells Fargo & Company dropped their target price 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 report on Friday, September 25th. Finally, TD Cowen assumed coverage on The Goldman Sachs Group in a research note on Thursday, October 8th. They set a "buy" rating and a $1,050.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Hold" and an average price target of $1,055.09.

The Goldman Sachs Group 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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