Bank of America Corp DE Takes $6.76 Billion Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Bank of America acquired 6.68 million Goldman Sachs shares worth approximately $6.76 billion, giving it a 2.29% stake. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported strong second-quarter results, with EPS of $20.98 and revenue of $20.34 billion, exceeding analyst estimates and representing 39.4% year-over-year revenue growth.
• The company raised its quarterly dividend to $5.00 per share, or $20 annually, implying a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,062.86.

Bank of America Corp DE purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,680,811 shares of the investment management company's stock, valued at approximately $6,756,772,000. Bank of America Corp DE owned 2.29% of The Goldman Sachs Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new position in The Goldman Sachs Group in the first quarter valued at about $25,000. BOK Financial Private Wealth Inc. increased its stake 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 acquiring an additional 17 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $26,000. Steph & Co. acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in The Goldman Sachs Group during the 4th quarter worth approximately $29,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs is deepening its technology investment by opening a Bellevue, Washington, engineering hub expected to house more than 125 employees focused on artificial intelligence and cloud technology. The move could strengthen Goldman’s internal capabilities, improve efficiency and help attract technology talent. Goldman Sachs deepens AI push with new Pacific Northwest engineering hub
• Positive Sentiment: Goldman is serving as an underwriter or distribution agent for several equity offerings, including Corning’s proposed $2 billion at-the-market program and Oklo’s $1 billion offering. These mandates can generate underwriting and distribution fees and highlight the strength of Goldman’s capital-markets franchise, although the share issuance itself benefits the client companies rather than GS directly. Corning Announces $2 Billion At-The-Market Equity Program
• Positive Sentiment: Goldman’s research activity and presence at its Communacopia + Technology conference continue to generate visibility across technology and financial-services markets, supporting its advisory, trading and institutional-client franchises. Goldman also raised its Coinbase price target and reiterated a Buy rating, illustrating ongoing coverage of emerging financial-market opportunities. Goldman Sachs Sees AI Reshaping Institutional Investing
• Neutral Sentiment: Goldman named Farshid Asl and Matt Weir co-heads of its Investment Strategy Group as Sharmin Mossavar-Rahmani prepares to retire. The transition provides continuity but introduces leadership-change risk for a prominent research and advisory function. Goldman Sachs investment strategy chief Mossavar-Rahmani to retire
• Neutral Sentiment: Goldman’s second-quarter 13F showed increased holdings of Micron and Amazon. The filing reflects Goldman’s investment positions and does not directly change GS earnings, though it reinforces the firm’s focus on major artificial-intelligence beneficiaries. Goldman Sachs and Billionaires Like These 2 AI Stocks

Analyst Ratings Changes

A number of brokerages recently issued reports on GS. Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a "market perform" rating in a report on Wednesday, July 15th. Weiss Ratings lowered shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Wall Street Zen cut shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research report on Sunday. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets lifted their target price on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a "market perform" rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,062.86.

The Goldman Sachs Group Price Performance

GS stock opened at $1,029.19 on Monday. The stock has a 50-day moving average price of $1,044.84 and a two-hundred day moving average price of $976.26. The stock has a market cap of $299.67 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 1 year low of $740.01 and a 1 year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued 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 Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period in the previous year, the company posted $10.91 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. Equities analysts forecast 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. Stockholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. 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 NYSE: GS is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.

Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.

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