The Goldman Sachs Group, Inc. $GS Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management reduced its stake in Goldman Sachs by 13.3% in the first quarter, selling 26,189 shares and ending with 171,028 shares valued at about $144.6 million.
• Goldman Sachs reported strong first-quarter results, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping expectations, while revenue rose 14.4% year over year.
• The company also announced a quarterly dividend of $4.50 per share, payable June 29, and analysts currently have a consensus rating of Hold with an average price target of $960.68.

Pictet Asset Management Holding SA cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,028 shares of the investment management company's stock after selling 26,189 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of The Goldman Sachs Group worth $144,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth approximately $2,515,830,000. Corient Private Wealth LLC lifted its stake in The Goldman Sachs Group by 1,657.7% in 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 last quarter. Wellington Management Group LLP lifted its stake in The Goldman Sachs Group by 110.8% in the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock worth $1,417,997,000 after acquiring an additional 936,015 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in The Goldman Sachs Group by 428.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company's stock worth $488,947,000 after acquiring an additional 450,984 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock worth $25,503,685,000 after acquiring an additional 418,820 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 0.2%

GS stock opened at $1,021.45 on Monday. The stock has a market cap of $301.34 billion, a P/E ratio of 18.67, a PEG ratio of 1.33 and a beta of 1.30. 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 $685.39 and a twelve month high of $1,125.00. The company's 50 day moving average is $996.38 and its two-hundred day moving average is $928.65.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) 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 16.53%. The business had revenue of $17.23 billion during the quarter, compared to analysts' expectations of $16.66 billion. During the same quarter in the prior year, the business posted $14.12 EPS. The company's revenue for the quarter was up 14.4% on a year-over-year basis. Research analysts expect that The Goldman Sachs Group, Inc. will post 59.6 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 Monday, June 29th. Shareholders of record on Monday, June 1st will be issued a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.8%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 32.89%.

Analyst Ratings Changes

GS has been the topic of a number of analyst reports. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a report on Monday, April 20th. Dbs Bank boosted their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Weiss Ratings lowered The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 8th. CICC Research raised their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley set a $900.00 price target on The Goldman Sachs Group in a report on Friday, June 12th. Nine research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $960.68.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs highlighted three stocks positioned to benefit from the projected $757 billion AI capex supercycle, reinforcing its influence and constructive stance on major growth themes. Goldman Sachs Predicts 3 Stocks to Benefit Most From $757B AI’s Capex Supercycle
• Positive Sentiment: Investors are looking ahead to Goldman Sachs’ second-quarter earnings, with expectations for double-digit earnings growth, which could support sentiment if results confirm strength in trading and investment banking. Here's What to Expect From Goldman Sachs’ Next Earnings Report
• Neutral Sentiment: Rothschild & Co Redburn raised its price target on Goldman Sachs but maintained a neutral rating, suggesting the shares may be fairly valued after their run-up. MarketScreener report on Rothschild & Co Redburn target change
• Neutral Sentiment: Goldman Sachs remains in the market spotlight, with investors heavily searching the stock and watching for catalysts, but this is more a sentiment indicator than a direct fundamental driver. Investors Heavily Search The Goldman Sachs Group, Inc. (GS): Here is What You Need to Know

Insider Transactions at The Goldman Sachs Group

In other news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's 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 sale, the chief accounting officer directly owned 6,338 shares of the company's stock, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,681 shares of company stock worth $31,737,875 over the last three months. 0.55% of the stock is currently owned by company 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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