Oak Grove Capital LLC Takes $1.89 Million Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Oak Grove Capital LLC opened a new position in Goldman Sachs during the fourth quarter, buying 2,150 shares worth about $1.89 million.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 and revenue of $17.23 billion, both above analyst estimates and up from a year earlier.
• The company also announced a quarterly dividend of $4.50 per share, payable June 29, while analysts currently rate the stock a consensus Hold with a price target of $941.82.

Oak Grove Capital LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,150 shares of the investment management company's stock, valued at approximately $1,890,000.

A number of other hedge funds have also recently made changes to their positions in GS. Dagco Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC grew its position in shares of The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after buying an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Finally, Cornerstone Financial Management LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $33,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, 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 sale, the insider owned 2,578 shares in the company, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 33,681 shares of company stock worth $31,737,875. Insiders own 0.55% of the company's stock.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs crossed $1 trillion in M&A advisory volume year to date, the fastest pace ever for a bank, which points to a strong pipeline for investment banking and advisory fee growth. Goldman Tops $1 Trillion in M&A Deals, Fastest to Reach the Mark
• Positive Sentiment: That dealmaking milestone suggests Goldman Sachs could benefit from a broader rebound in capital markets activity and stronger fee income in coming quarters. GS Crosses $1T in M&A Deals: Catalyst for Advisory Fee Growth?
• Neutral Sentiment: Former Goldman Sachs executive Rob Kaplan said the Federal Reserve may need to raise rates as soon as September if inflation stays elevated, reinforcing expectations for a more hawkish rate backdrop that could influence bank trading and markets activity. Goldman’s Kaplan Says Fed May Need to Hike as Soon as September
• Neutral Sentiment: Goldman also warned that Big Tech’s massive AI spending could pressure returns on equity, a broader market view that may matter more for client sentiment than for GS’s own earnings. Goldman Sachs Warns Big Tech's $770 Billion AI Spending Frenzy Could Backfire— Here's Why
• Negative Sentiment: Bank stocks may face pressure if regulators tighten Basel capital rules, since banks are pushing for more relief amid concerns that tougher market-risk requirements could curb Treasury liquidity and raise trading capital needs. Banks Push for More Basel Relief Amid Treasury Liquidity Fears

The Goldman Sachs Group Stock Up 0.0%

NYSE:GS opened at $1,099.46 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a twelve month low of $630.01 and a twelve month high of $1,125.00. The company has a market cap of $324.35 billion, a PE ratio of 20.09, a P/E/G ratio of 1.41 and a beta of 1.30. The company's 50 day moving average is $975.46 and its two-hundred day moving average is $918.48.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.23 billion during the quarter, compared to analysts' expectations of $16.66 billion. During the same quarter last year, the company posted $14.12 earnings per share. The business's quarterly revenue was up 14.4% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be given a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Daiwa Securities Group upped their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. UBS Group raised their price objective on The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Morgan Stanley set a $900.00 target price on The Goldman Sachs Group in a research note on Friday, June 12th. Finally, Wells Fargo & Company reduced their target price on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating on the stock in a research report on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of "Hold" and a consensus price target of $941.82.

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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