The Goldman Sachs Group, Inc. $GS Stock Holdings Cut by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services cut its Goldman Sachs stake 2.8% in the third quarter, selling 2,493 shares and retaining 86,806 shares valued at about $78.2 million.
• Goldman reported quarterly EPS of $17.01, beating the $12.86 consensus, while revenue of $18.68 billion also topped estimates and rose 23% year over year.
• Analyst sentiment is mixed but averages a Hold rating, with a mean price target of $1,052. CEO David Solomon also sold 12,000 shares in late October.

Commonwealth Equity Services LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,806 shares of the investment management company's stock after selling 2,493 shares during the period. Commonwealth Equity Services LLC's holdings in The Goldman Sachs Group were worth $78,157,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GS. Sky Investment Group LLC lifted its stake in shares of 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 purchasing an additional 10 shares during the last quarter. Warren Street Wealth Advisors LLC raised its holdings 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 buying an additional 10 shares in the last quarter. Meadow Creek Wealth Advisors LLC raised its holdings in 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 valued at $569,000 after buying an additional 11 shares in the last quarter. DecisionMap Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 3.2% in 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 during the last quarter. Finally, Millstone Evans Group LLC lifted its position in shares of The Goldman Sachs Group by 3.7% in the first quarter. Millstone Evans Group LLC now owns 337 shares of the investment management company's stock worth $285,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David Solomon sold 12,000 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the completion of the transaction, the chief executive officer owned 159,180 shares in the company, valued at approximately $144,968,409.60. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ericka Leslie sold 100 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $926.28, for a total value of $92,628.00. Following the completion of the sale, the insider directly owned 10,460 shares in the company, valued at $9,688,888.80. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last three months. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price target on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a "market perform" rating for the company in a research note on Wednesday, October 14th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a "neutral" rating in a report on Friday, October 16th. Barclays upped their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Finally, HSBC lifted their price target on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the company a "hold" rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target of $1,052.04.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded down $3.07 during trading on Friday, reaching $865.88. The company had a trading volume of 2,481,265 shares, compared to its average volume of 2,283,557. The business's 50 day moving average price is $932.40 and its 200-day moving average price is $956.58. The Goldman Sachs Group, Inc. has a 52 week low of $754.00 and a 52 week high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. The stock has a market cap of $252.12 billion, a PE ratio of 12.45, a PEG ratio of 0.85 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating analysts' consensus estimates of $12.86 by $4.15. The firm had revenue of $18.68 billion for the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $12.25 EPS. Analysts expect that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide.

The company's businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.

Goldman Sachs also provides consumer financial products and digital financial services.

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