Bank of Stockton Lowers Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Bank of Stockton reduced its Goldman Sachs stake by 30.8% in the first quarter, selling 972 shares and ending with 2,180 shares valued at about $1.84 million.
• Goldman Sachs beat Wall Street’s quarterly expectations, reporting earnings of $17.55 per share on revenue of $17.23 billion, with revenue up 14.4% year over year.
• Analysts remain broadly constructive on GS despite some mixed ratings, with a consensus “Hold” and an average price target of $986.91, while several firms recently raised their targets.

Bank of Stockton cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 30.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,180 shares of the investment management company's stock after selling 972 shares during the quarter. Bank of Stockton's holdings in The Goldman Sachs Group were worth $1,844,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dagco Inc. acquired a new position in The Goldman Sachs Group in the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC lifted its position in The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after acquiring an additional 23 shares during the period. Steph & Co. purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $27,000. Finally, Lifetime Wealth Management P.C. purchased a new position in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GS has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a report on Monday, April 6th. CICC Research upped their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Bank of America raised their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Tuesday. Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Finally, Rothschild & Co Redburn raised their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $986.91.

The Goldman Sachs Group Trading Down 1.3%

Shares of The Goldman Sachs Group stock opened at $1,041.95 on Wednesday. The company has a 50-day moving average of $1,010.57 and a two-hundred day moving average of $935.60. The Goldman Sachs Group, Inc. has a 12-month low of $691.30 and a 12-month high of $1,125.00. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The stock has a market cap of $307.39 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the business posted $14.12 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

Trending Headlines about The Goldman Sachs Group

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.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were 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 in the company, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 6,338 shares of the company's stock, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is currently owned by insiders.

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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