Integrated Advisors Network LLC Boosts Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Integrated Advisors Network LLC increased its stake in Goldman Sachs by 18.8% in the first quarter, buying 1,073 more shares and bringing its total to 6,794 shares worth about $5.75 million.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 topping estimates and revenue of $17.23 billion exceeding expectations, while revenue rose 14.4% year over year.
• Analysts turned more upbeat on GS, with firms like Bank of America and Wells Fargo lifting price targets, though the overall consensus rating remains Hold.

Integrated Advisors Network LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,794 shares of the investment management company's stock after purchasing an additional 1,073 shares during the quarter. Integrated Advisors Network LLC's holdings in The Goldman Sachs Group were worth $5,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GS. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC boosted its holdings in The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. bought a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $27,000. Finally, Lifetime Wealth Management P.C. bought a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

More The Goldman Sachs Group News

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 from $1,050 and kept a buy rating, signaling confidence in further upside.
• Positive Sentiment: UBS also boosted its target to $1,120 from $940, reflecting a more constructive view on the stock ahead of earnings.
• Positive Sentiment: Analysts expect Goldman Sachs to post year-over-year earnings growth in its upcoming report, with commentary pointing to a high likelihood of an earnings beat.
• Positive Sentiment: Reuters reported that a strong quarter for Wall Street banks could be driven by higher trading revenue and advisory fees, including a boost from the SpaceX IPO and healthier M&A activity.
• Positive Sentiment: Goldman Sachs’ expanding role in EMEA M&A advisory underscores improving dealmaking trends that could support investment-banking revenue. Article Title
• Neutral Sentiment: Goldman Sachs is also in the news for market commentary and stock-picking calls on other companies, which is more about the firm’s research activity than a direct driver of GS earnings.
• Neutral Sentiment: The company’s hiring and technology-investment updates may help long-term efficiency, but they are not likely to move the stock much on their own.
• Negative Sentiment: Broader market weakness ahead of earnings season and some hedge-fund de-risking in tech and industrials may temper risk appetite for financial stocks in the near term.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock traded down $11.56 on Tuesday, hitting $1,043.73. 358,983 shares of the company's stock were exchanged, compared to its average volume of 2,297,932. The company has a 50-day simple moving average of $1,005.83 and a 200-day simple moving average of $933.17. The stock has a market capitalization of $307.91 billion, a PE ratio of 19.08, a PEG ratio of 1.32 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1 year low of $691.30 and a 1 year high of $1,125.00. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63.

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

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a $4.50 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GS shares. Daiwa Securities Group increased their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. BMO Capital Markets lifted their price objective on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a "market perform" rating in a report on Monday, June 29th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Bank of America increased their target price on The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Dbs Bank raised their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus target price of $986.91.

Insider Buying and Selling

In other news, insider Alex S. Golten sold 1,116 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider owned 2,578 shares of the company's stock, valued at $2,413,472.04. This trade represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares of the company's stock, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,681 shares of company stock worth $31,737,875 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Company 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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