Montag A & Associates Inc. Lowers Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Montag A & Associates trimmed its stake in The Goldman Sachs Group by 5.1% in Q4, selling 1,272 shares and ending with 23,770 shares valued at about $20.9 million, which represents 1.0% of its portfolio and its 24th-largest holding.
• Goldman beat Q1 estimates, reporting $17.55 EPS (vs. $15.92 expected) and $17.23 billion in revenue, up 14.4% year-over-year.
• The company declared a $4.50 quarterly dividend ($18 annual, ~1.9% yield; ex-dividend June 1, payable June 29), while analysts hold a consensus "Hold" rating with a $922.71 target amid mixed price-target revisions (e.g., Barclays $1,048 overweight).

Montag A & Associates Inc. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,770 shares of the investment management company's stock after selling 1,272 shares during the quarter. The Goldman Sachs Group comprises 1.0% of Montag A & Associates Inc.'s portfolio, making the stock its 24th largest position. Montag A & Associates Inc.'s holdings in The Goldman Sachs Group were worth $20,894,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Dagco Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $25,000. Corundum Trust Company INC purchased a new stake in The Goldman Sachs Group during the third quarter worth approximately $29,000. Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $31,000. Joseph Group Capital Management purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $37,000. Finally, Ares Financial Consulting LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $39,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GS. BNP Paribas Exane decreased their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Barclays upped their target price on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the company an "overweight" rating in a research note on Monday, January 5th. HSBC decreased their target price on shares of The Goldman Sachs Group from $802.00 to $729.00 in a research note on Wednesday, April 1st. BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a research note on Monday, April 20th. Finally, Daiwa Securities Group decreased their target price on shares of The Goldman Sachs Group from $940.00 to $891.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $922.71.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Shareholders backed Goldman’s board and rejected proposed governance changes, removing near-term proxy uncertainty and supporting management continuity. Goldman Sachs Shareholders Back Board, Reject Governance Changes
• Positive Sentiment: Goldman is a lead bookrunner on Hemab Therapeutics’ IPO ($~301.5M), a visible ECM win that should produce fees and signal continued dealflow for Goldman’s equities and ECM franchise. Hemab Therapeutics Announces Pricing of Initial Public Offering at $18.00 Per Share
• Positive Sentiment: Goldman has been tapped to lead a potential IPO for Italy’s Dolomiti Energia and ranked #1 by value on oil & gas M&A in Q1 — both items point to continued IB fee opportunities. Italy's Dolomiti Energia picks Intesa, Goldman Sachs to lead potential IPO Goldman Sachs tops oil and gas M&A rankings by value in Q1 2026
• Neutral Sentiment: Goldman research added UnitedHealth (UNH) to its Conviction List — bolsters the firm's research credibility and may support institutional relationships, but is indirect for GS’s own stock. Goldman Sachs Adds UnitedHealth to Its Conviction List: Is the Managed Care Comeback Real?
• Neutral Sentiment: Goldman raised its oil price outlook and its analysts are reiterating thematic calls (favoring tech giants for AI exposure). These research moves highlight Goldman’s market influence but have a more indirect impact on GS revenue. Goldman Sachs Just Raised Its Oil Price Forecast. Here's What Energy Investors Should Do Now. Why Goldman Sachs Prefers Tech Giants Over Semiconductor Stocks for AI Exposure
• Neutral Sentiment: Goldman analysts flagged unusually thin S&P 500 breadth (dot‑com era levels), a market‑risk signal that influences client flows and positioning but is a macro research call rather than firm-specific news. S&P 500 Hasn't Looked This Unbalanced Since The Dot-Com Bubble, Goldman Warns
• Negative Sentiment: Jane Street reported massive trading revenues and sharply higher compensation — a sign of fierce competition and elevated market‑making payouts that could pressure Goldman’s trading margins and require higher pay to retain talent. Jane Street Pays $9.38 Billion As Trading Revenue Hits $39.6 Billion
• Negative Sentiment: Breakingviews commentary warns Goldman is dialing up private‑credit exposure, highlighting a higher risk/return tradeoff in a market that could widen losses if conditions deteriorate. That strategy can boost fee income but raises balance‑sheet and credit risk. Goldman Sachs dials up private credit risk-reward

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $923.32 on Friday. The company has a market capitalization of $272.37 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.28. The firm has a fifty day simple moving average of $869.26 and a 200-day simple moving average of $866.90. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 2.56. The Goldman Sachs Group, Inc. has a twelve month low of $547.06 and a twelve month high of $984.70.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results 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 Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.02%. The business had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. During the same period in the prior year, the firm earned $14.12 earnings per share. The business's quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is 32.89%.

Insider Activity

In other news, EVP John F.W. Rogers sold 2,704 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $960.99, for a total value of $2,598,516.96. Following the sale, the executive vice president owned 9,428 shares in the company, valued at approximately $9,060,213.72. This represents a 22.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 11,623 shares of the company's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $941.57, for a total transaction of $10,943,868.11. Following the completion of the sale, the chief financial officer owned 29,342 shares in the company, valued at approximately $27,627,546.94. This trade represents a 28.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,001 shares of company stock worth $30,367,306. 0.55% of the stock is currently 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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