Axxcess Wealth Management LLC Reduces Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Axxcess Wealth Management LLC cut its Goldman Sachs stake by 10.6% in the first quarter, selling 1,575 shares and leaving it with 13,329 shares valued at about $10.9 million.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 topping estimates and revenue of $17.23 billion beating expectations on a year-over-year revenue increase of 14.4%.
• The company also paid a quarterly dividend of $4.50 per share, equal to an annualized $18.00 payout and a 1.7% yield, while analysts remain mixed overall with an average rating of “Hold.”

Axxcess Wealth Management LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,329 shares of the investment management company's stock after selling 1,575 shares during the quarter. Axxcess Wealth Management LLC's holdings in The Goldman Sachs Group were worth $10,886,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GS. Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $2,515,830,000. Corient Private Wealth LLC raised its stake in The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock worth $2,282,312,000 after acquiring an additional 2,448,767 shares during the period. Wellington Management Group LLP lifted its holdings in The Goldman Sachs Group by 110.8% during the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock valued at $1,417,997,000 after purchasing an additional 936,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of The Goldman Sachs Group by 428.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company's stock worth $488,947,000 after purchasing an additional 450,984 shares during the period. Finally, Diamant Asset Management Inc. boosted its position in shares of The Goldman Sachs Group by 84,499.0% in the first quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company's stock worth $35,785,000 after purchasing an additional 422,495 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the business's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% 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 worth $31,737,875 over the last three months. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Trading Down 1.3%

Shares of The Goldman Sachs Group stock opened at $1,041.95 on Wednesday. The Goldman Sachs Group, Inc. has a twelve month low of $691.30 and a twelve month high of $1,125.00. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The business has a 50-day moving average price of $1,010.57 and a 200-day moving average price of $935.60. The firm has a market cap of $307.39 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.36 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts' consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same period in the prior year, the company earned $14.12 earnings per share. The firm's revenue was up 14.4% on a year-over-year basis. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were paid a dividend of $4.50 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,150 and kept a buy rating, signaling confidence in upside from current levels.
• Positive Sentiment: UBS also lifted its target on GS to $1,120, suggesting analysts still see room for the stock to appreciate.
• Positive Sentiment: Multiple earnings previews pointed to growth in Goldman Sachs’ upcoming results, with analysts expecting the firm to benefit from stronger trading activity and dealmaking across Wall Street.
• Positive Sentiment: Reuters reported that a surge in trading activity, helped by the SpaceX IPO, could lift second-quarter earnings at major Wall Street banks, including Goldman Sachs.
• Neutral Sentiment: Goldman Sachs’ own strategists said the market’s “HALO trade” is entering a tougher phase where earnings performance matters more, which may be prompting a more cautious tone across equities.
• Neutral Sentiment: Several articles highlighted Goldman Sachs research on other assets and companies, including bullish calls on Nvidia and Meta and a bearish take on gold; these reinforce the firm’s market influence but do not directly change GS fundamentals.
• Negative Sentiment: GS has been cited in headlines about rising leverage in the market and hedge funds trimming riskier exposures, which can contribute to a more cautious trading backdrop for financial stocks.
• Negative Sentiment: A Zacks note said Goldman Sachs dipped more than the broader market in the latest session, indicating near-term selling pressure and weaker relative performance.

Analysts Set New Price Targets

Several brokerages have recently commented on GS. Citigroup raised their price objective on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, June 30th. Bank of America boosted their price objective on The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the company a "buy" rating in a research report on Tuesday. BMO Capital Markets increased their target price on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a "market perform" rating in a research report on Monday, June 29th. Finally, Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $986.91.

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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