Belpointe Asset Management LLC Has $4.72 Million Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Belpointe Asset Management LLC increased its stake in The Goldman Sachs Group by 18.4% in Q2, owning 6,661 shares worth approximately $4.72 million.
• The Goldman Sachs Group reported an earnings per share (EPS) of $10.91 for the last quarter, surpassing analyst estimates of $9.82, with a revenue of $14.58 billion.
• The company declared a quarterly dividend of $4.00 per share, marking an increase from the previous $3.00, reflecting a 2.0% dividend yield.

Belpointe Asset Management LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 18.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,661 shares of the investment management company's stock after acquiring an additional 1,035 shares during the period. Belpointe Asset Management LLC's holdings in The Goldman Sachs Group were worth $4,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC increased its stake in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the last quarter. Northern Trust Corp grew its holdings in The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after acquiring an additional 40,125 shares during the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group during the 1st quarter worth $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in The Goldman Sachs Group by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after purchasing an additional 120,272 shares during the period. Finally, Amundi lifted its holdings in The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after buying an additional 225,993 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $790.32 on Monday. The business's 50 day simple moving average is $755.05 and its two-hundred day simple moving average is $656.38. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $239.25 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42.

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

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the sale, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last quarter. Company insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GS. BMO Capital Markets began coverage on The Goldman Sachs Group in a research note on Friday. They issued a "market perform" rating and a $785.00 price objective for the company. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods boosted their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of The Goldman Sachs Group in a report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $717.00.

About The Goldman Sachs Group

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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