Axxcess Wealth Management LLC Has $29.82 Million Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Axxcess Wealth Management boosted its Goldman Sachs stake by 140% in the fourth quarter, ending with 33,927 shares valued at about $29.8 million.
• Goldman Sachs reported strong first-quarter results, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping forecasts; revenue rose 14.4% year over year.
• The company announced a $4.50 quarterly dividend payable June 29, while insiders have also been selling shares recently, including notable sales by Alex S. Golten and Kathryn H. Ruemmler.

Axxcess Wealth Management LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 140.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,927 shares of the investment management company's stock after acquiring an additional 19,791 shares during the quarter. Axxcess Wealth Management LLC's holdings in The Goldman Sachs Group were worth $29,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dagco Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $25,000. Manning & Napier Advisors LLC grew its position in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after purchasing an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $31,000. Entrust Financial LLC bought a new position in The Goldman Sachs Group during the 4th quarter valued at $34,000. Finally, Joseph Group Capital Management bought a new position in The Goldman Sachs Group during the 4th quarter valued at $37,000. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 0.9%

Shares of GS opened at $996.73 on Friday. The firm has a market cap of $294.04 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.27 and a beta of 1.28. The stock has a 50 day simple moving average of $892.51 and a two-hundred day simple moving average of $884.59. 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, Inc. has a 1 year low of $582.50 and a 1 year high of $1,005.36.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.92 by $1.63. The business had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The Goldman Sachs Group's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $14.12 earnings per share. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company 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. The ex-dividend date is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The Goldman Sachs Group's dividend payout ratio is 32.89%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares of the company's stock, valued at approximately $2,413,472.04. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their position. 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 over the last ninety days. Insiders own 0.55% 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 was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GS shares. Daiwa Securities Group raised their price objective on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a research note on Monday, April 20th. Wells Fargo & Company dropped their price objective on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating on the stock in a research note on Monday, April 13th. Jefferies Financial Group lowered their target price on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, Citigroup boosted their price objective on The Goldman Sachs Group from $765.00 to $930.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company 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.

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