State of Alaska Department of Revenue Sells 1,322 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Alaska’s Department of Revenue reduced its Goldman Sachs stake by 3.6%, selling 1,322 shares and retaining 35,082 shares valued at approximately $31.6 million. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported a strong quarter, with adjusted EPS of $17.01 and revenue of $18.68 billion, beating estimates and reflecting 23% year-over-year revenue growth.
• Despite the earnings beat, the stock faces pressure from inflation, interest-rate uncertainty and elevated expectations. Analysts maintain a consensus “Hold” rating, while Goldman declared a $5 quarterly dividend, or approximately a 2.3% annual yield.

State of Alaska Department of Revenue decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,082 shares of the investment management company's stock after selling 1,322 shares during the period. State of Alaska Department of Revenue's holdings in The Goldman Sachs Group were worth $31,585,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Sky Investment Group LLC grew its holdings in The Goldman Sachs Group by 0.9% in the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company's stock valued at $1,181,000 after buying an additional 10 shares in the last quarter. Warren Street Wealth Advisors LLC increased its position in The Goldman Sachs Group by 3.9% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company's stock worth $272,000 after buying an additional 10 shares during the period. First Financial Group Corp lifted its holdings in shares of The Goldman Sachs Group by 4.7% during the first quarter. First Financial Group Corp now owns 246 shares of the investment management company's stock worth $208,000 after buying an additional 11 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 1.7% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company's stock worth $569,000 after buying an additional 11 shares in the last quarter. Finally, DecisionMap Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 3.2% during the second quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company's stock worth $354,000 after buying an additional 11 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman reported $17.01 in adjusted EPS and $18.68 billion in revenue, exceeding estimates of $12.86 and $16.83 billion, respectively. Revenue increased 23% year over year, supported by a 72% surge in equities revenue and 21% growth in investment-banking fees. Goldman Q3 Earnings Beat on Strong Equities and Investment Banking Revenues
• Positive Sentiment: The firm also reported record or near-record activity across several businesses, including $4.1 trillion in assets under supervision and $2.1 trillion in wealth-management assets. CEO David Solomon said capital-markets activity remains strong and that Goldman is not pursuing a leadership transition. Goldman Sachs Profits Jump as CEO Says No Plans to Exit
• Neutral Sentiment: Goldman declared a $5-per-share quarterly dividend, equivalent to $20 annually and a roughly 2.3% yield. Its Builders and Innovators Summit recognitions and new alternatives transactions provide visibility for the franchise but are unlikely to materially affect near-term earnings. Big Banks Report Strong Earnings—So Why Are Shares Falling?
• Negative Sentiment: Despite the results, investors are selling the stock amid hotter inflation data, concerns that abrupt interest-rate moves could pressure trading and financing activity, and broader market weakness. Analysts at Citi and RBC cut their price targets to $1,000 and $1,010 and kept neutral or sector-perform ratings, while Morgan Stanley maintained a Hold rating because of late-cycle risks. Analysts Lower Forecasts on Goldman Sachs After Q3 Results
• Negative Sentiment: The reaction reflects a market-wide shift in which strong earnings are being treated as insufficient when expectations and valuations are already elevated. Rising AI-related financing costs and uncertainty over the sustainability of dealmaking gains add to the pressure. Why Great Earnings Are Being Punished Right Now

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 18th. JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. HSBC raised their price target on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a "hold" rating in a research report on Monday, September 28th. TD Cowen started coverage on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. They issued a "buy" rating and a $1,050.00 price objective for the company. Finally, BMO Capital Markets cut their price objective on shares of The Goldman Sachs Group from $972.00 to $970.00 and set a "market perform" rating for the company in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of "Hold" and a consensus target price of $1,050.55.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded up $4.53 during mid-day trading on Thursday, reaching $883.25. 1,304,978 shares of the company were exchanged, compared to its average volume of 2,214,724. The firm has a market cap of $257.18 billion, a PE ratio of 12.71, a PEG ratio of 0.98 and a beta of 1.29. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63. The company has a fifty day simple moving average of $980.74 and a 200-day simple moving average of $989.49. The Goldman Sachs Group, Inc. has a 12 month low of $740.01 and a 12 month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating analysts' consensus estimates of $12.86 by $4.15. The firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The company's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company posted $12.25 EPS. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group's dividend payout ratio is presently 28.76%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.

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