Momentum Wealth Planning LLC Sells 2,319 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Momentum Wealth Planning LLC cut its Goldman Sachs stake by 70% in the first quarter, selling 2,319 shares and leaving it with 993 shares valued at about $840,000.
• Goldman Sachs reported strong second-quarter results, with EPS of $20.98 and revenue of $20.34 billion, both well above analyst expectations and up sharply from a year earlier.
• The company also raised its quarterly dividend to $5.00 per share from $4.50, while analysts remain cautiously constructive with a consensus rating of “Hold” and an average target price of about $1,061.43.

Momentum Wealth Planning LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 70.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 993 shares of the investment management company's stock after selling 2,319 shares during the period. The Goldman Sachs Group accounts for about 0.7% of Momentum Wealth Planning LLC's portfolio, making the stock its 21st largest position. Momentum Wealth Planning LLC's holdings in The Goldman Sachs Group were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in The Goldman Sachs Group in the 4th quarter worth about $2,515,830,000. Corient Private Wealth LLC increased its position in shares of The Goldman Sachs Group by 1,657.7% during the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock worth $2,282,312,000 after acquiring an additional 2,448,767 shares during the period. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter valued at approximately $2,024,921,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of The Goldman Sachs Group by 428.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company's stock valued at $488,947,000 after acquiring an additional 450,984 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its holdings in shares of The Goldman Sachs Group by 84,499.0% in the first quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company's stock valued at $35,785,000 after purchasing an additional 422,495 shares during the period. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,066.28 on Friday. The firm has a market cap of $314.56 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.20 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $691.88 and a 52-week high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The company's 50 day moving average is $1,035.20 and its 200 day moving average is $945.44.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping analysts' consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The Goldman Sachs Group's revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.91 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 66.83 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a $5.00 dividend. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $4.50. The Goldman Sachs Group's dividend payout ratio is presently 30.87%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GS. Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research note on Wednesday. BMO Capital Markets upped 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. Evercore reissued an "outperform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, Dbs Bank lifted their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1,061.43.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares of the company's stock, valued at $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,566 shares of company stock valued at $30,712,978. Company insiders own 0.55% of the company's stock.

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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