Belpointe Asset Management LLC Boosts Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Belpointe Asset Management LLC increased its stake in The Goldman Sachs Group by 53.7%, owning a total of 5,626 shares valued at approximately $3,074,000.
• The company's recent earnings report showed a significant increase in revenue, with $14.58 billion for the quarter, surpassing analysts' expectations.
• Despite some insider sales, 71.21% of The Goldman Sachs Group's stock is held by institutional investors, indicating strong institutional confidence in the stock.

Belpointe Asset Management LLC lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 53.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,626 shares of the investment management company's stock after buying an additional 1,966 shares during the period. Belpointe Asset Management LLC's holdings in The Goldman Sachs Group were worth $3,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth $25,000. American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth $29,000. Godsey & Gibb Inc. boosted its stake in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after buying an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Lowe Wealth Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after buying an additional 49 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GS shares. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $660.00.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last three months. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 0.8%

GS opened at $769.95 on Thursday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $774.47. The firm's fifty day moving average is $726.53 and its 200 day moving average is $629.25. The stock has a market cap of $233.08 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the company earned $8.62 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

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