The Goldman Sachs Group, Inc. $GS Stock Bought by Fortitude Family Office LLC

Key Points

• Fortitude Family Office LLC increased its Goldman Sachs holdings by 310.8% in the third quarter, owning 1,902 shares valued at approximately $1.713 million. Institutional investors collectively own 71.21% of GS shares.
• Goldman Sachs reported third-quarter EPS of $17.01 and revenue of $18.68 billion, exceeding analyst expectations; revenue grew 23% year over year. The company also declared a quarterly dividend of $5 per share, representing a 2.3% annualized yield.
• GS shares opened at $877.07, below their 50-day and 200-day moving averages. Analysts’ consensus rating is “Hold”, with an average price target of $1,050.55 amid mixed upgrades, downgrades, and concerns about elevated interest rates.

Fortitude Family Office LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 310.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,902 shares of the investment management company's stock after purchasing an additional 1,439 shares during the quarter. Fortitude Family Office LLC's holdings in The Goldman Sachs Group were worth $1,713,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sky Investment Group LLC lifted its holdings in shares of The Goldman Sachs Group by 0.9% in the second quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company's stock worth $1,181,000 after buying an additional 10 shares in the last quarter. Warren Street Wealth Advisors LLC grew its stake in The Goldman Sachs Group by 3.9% during the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company's stock valued at $272,000 after acquiring an additional 10 shares in the last quarter. First Financial Group Corp increased its holdings in The Goldman Sachs Group by 4.7% in the 1st quarter. First Financial Group Corp now owns 246 shares of the investment management company's stock valued at $208,000 after acquiring an additional 11 shares during the last quarter. Meadow Creek Wealth Advisors LLC lifted its stake in The Goldman Sachs Group by 1.7% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company's stock worth $569,000 after purchasing an additional 11 shares in the last quarter. Finally, DecisionMap Wealth Management LLC lifted its stake in The Goldman Sachs Group by 3.2% in the 2nd quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company's stock worth $354,000 after purchasing 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 Stock Down 1.7%

Shares of GS opened at $877.07 on Thursday. The company has a market cap of $255.38 billion, a PE ratio of 12.61, a P/E/G ratio of 0.98 and a beta of 1.29. The business has a fifty day moving average of $980.74 and a 200 day moving average of $989.49. The Goldman Sachs Group, Inc. has a 52-week low of $740.01 and a 52-week high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data 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 Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion for the quarter, compared to analysts' expectations of $16.83 billion. During the same quarter in the previous year, the business posted $12.25 earnings per share. The business's revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The Goldman Sachs Group's payout ratio is currently 30.87%.

Analyst Upgrades and Downgrades

Several research firms have commented on GS. Oppenheimer downgraded shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Bank of America raised their price target on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Morgan Stanley set a $1,145.00 price objective on The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, Wall Street Zen cut The Goldman Sachs Group from a "buy" rating to a "hold" rating in a report on Sunday, September 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and a consensus target price of $1,050.55.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs reported third-quarter EPS of $17.01 versus the $12.86 consensus estimate, while revenue rose 23% year over year to $18.68 billion, exceeding expectations. Net income increased 29% to $5.29 billion. Reuters earnings report
• Positive Sentiment: Equities revenue surged 72% to $6.44 billion, investment-banking fees climbed 21%, and wealth-management assets reached a record $2.1 trillion. The board also declared a $5-per-share quarterly dividend, and Goldman returned $4.49 billion to shareholders during the quarter. Zacks earnings analysis
• Positive Sentiment: CEO David Solomon described Goldman’s business as “big, durable and diverse,” said the underlying economy remains strong, and reiterated that no leadership succession transition is underway. Jim Cramer also identified GS as his favorite bank stock following the results. CNBC interview with David Solomon
• Neutral Sentiment: Citigroup cut its GS price target to $1,000 from $1,050 and retained a Neutral rating, while RBC lowered its target to $1,010 from $1,220 and assigned a Sector Perform rating. The targets still imply upside, but the reductions signal more cautious valuation expectations. Benzinga analyst target changes
• Negative Sentiment: Hotter-than-expected inflation data pressured financial stocks and raised concerns that interest rates could remain elevated. Solomon warned that abrupt rate moves could create headwinds, while analysts cited late-cycle risks and Goldman’s already-premium valuation. Benzinga analysis of GS weakness
• Negative Sentiment: A Treasury review found that major U.S. banks’ reputation-risk policies could allow political or social considerations to influence access to banking services. Although no company-specific action was announced, the findings could increase regulatory and reputational scrutiny for Goldman Sachs. CNBC Treasury review

About The Goldman Sachs Group

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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