The Goldman Sachs Group, Inc. $GS Shares Sold by RBA Wealth Management LLC

Key Points

• RBA Wealth Management cut its Goldman Sachs stake by 45.8% in the second quarter, leaving it with 4,295 shares valued at approximately $4.34 million. Hedge funds and institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported a strong quarter, with earnings of $20.98 per share and revenue of $20.34 billion, substantially beating analyst estimates. Revenue rose 39.4% year over year, while analysts expect full-year EPS of $68.89.
• The company increased its quarterly dividend from $4.50 to $5.00 per share, implying an annualized dividend of $20 and a 1.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,062.86.

RBA Wealth Management LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 45.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,295 shares of the investment management company's stock after selling 3,629 shares during the period. RBA Wealth Management LLC's holdings in The Goldman Sachs Group were worth $4,344,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Audent Global Asset Management LLC increased its position in shares of The Goldman Sachs Group by 10.1% during the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock worth $4,604,000 after purchasing an additional 479 shares in the last quarter. Oak Grove Capital LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at $1,890,000. Nomura Asset Management Co. Ltd. lifted its holdings in The Goldman Sachs Group by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company's stock valued at $124,809,000 after purchasing an additional 3,653 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in The Goldman Sachs Group by 35.0% in the 4th quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company's stock valued at $10,499,000 after purchasing an additional 3,098 shares in the last quarter. Finally, New Age Alpha Advisors LLC boosted its stake in The Goldman Sachs Group by 92.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 14,298 shares of the investment management company's stock worth $12,568,000 after purchasing an additional 6,867 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $1,050.79 on Tuesday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The firm's 50-day moving average is $1,054.45 and its two-hundred day moving average is $962.07. The Goldman Sachs Group, Inc. has a 12 month low of $705.55 and a 12 month high of $1,153.99. The company has a market capitalization of $305.96 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analysts' expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.91 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $5.00 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.78%.

Analysts Set New Price Targets

GS has been the subject of a number of research reports. BMO Capital Markets upped their target price on shares of 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, July 15th. 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 note on Wednesday, July 15th. Citigroup boosted their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Wall Street Zen cut shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings raised shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,062.86.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman’s view that a September rate hike is unlikely helped lift broader risk sentiment and could benefit GS through stronger trading, capital-markets and dealmaking conditions. The firm also said markets may still be too hawkish as inflation cools. Odds of Fed Rate Hike This Year Fall as Goldman Sachs Warns Against Hawkish Bets
• Positive Sentiment: GS remains positioned as a potential earnings outperformer: analysts identified it among five highly ranked stocks expected to beat consensus estimates in upcoming results. That view follows the company’s latest quarterly report, which significantly exceeded earnings and revenue expectations. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Neutral Sentiment: Goldman’s research highlighted that artificial intelligence was mentioned by 65% of S&P 500 companies during second-quarter earnings calls, but only a small fraction quantified its earnings impact. The finding reinforces GS’s role in AI-related market research while suggesting that near-term corporate profit benefits remain uncertain. 65% of S&P 500 companies mentioned AI on Q2 earnings calls
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from higher tax refunds fades. A consumer slowdown could weigh on economic activity, credit demand and investor confidence, partially offsetting the benefits of easier financial conditions. Goldman Sachs warns of consumer spending slowdown as tax refund boost fades

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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source