The Goldman Sachs Group, Inc. $GS Stock Position Trimmed by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Goldman Sachs stake by 15.9% in the third quarter, selling 23,296 shares and retaining 122,908 shares valued at approximately $110.2 million. Institutional investors and hedge funds own 71.21% of the stock.
• Goldman Sachs reported stronger-than-expected quarterly results, with EPS of $17.01 versus the $12.86 consensus and revenue of $18.68 billion. The company also announced a quarterly dividend of $5 per share, equivalent to a 2.3% annualized yield.
• Shares recently traded at $880.48, well below the analyst consensus price target of $1,051.23; however, analyst sentiment remains mixed, with a consensus rating of Hold amid interest-rate uncertainty and concerns that strong earnings may already be reflected in the valuation.

TD Waterhouse Canada Inc. cut its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,908 shares of the investment management company's stock after selling 23,296 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in The Goldman Sachs Group were worth $110,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. WealthBridge Capital Management LLC increased its position in shares of The Goldman Sachs Group by 1.1% during the third quarter. WealthBridge Capital Management LLC now owns 1,064 shares of the investment management company's stock worth $958,000 after acquiring an additional 12 shares during the last quarter. Rise Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 4.4% in the third quarter. Rise Advisors LLC now owns 716 shares of the investment management company's stock worth $644,000 after acquiring an additional 30 shares in the last quarter. James T. Borello RIA boosted its holdings in The Goldman Sachs Group by 14.7% in the third quarter. James T. Borello RIA now owns 109 shares of the investment management company's stock valued at $98,000 after purchasing an additional 14 shares during the last quarter. Hanson & Doremus Investment Management boosted its holdings in The Goldman Sachs Group by 6.5% in the third quarter. Hanson & Doremus Investment Management now owns 379 shares of the investment management company's stock valued at $341,000 after purchasing an additional 23 shares during the last quarter. Finally, Perryman Financial Advisory Inc. AD grew its stake in The Goldman Sachs Group by 6.8% during the 3rd quarter. Perryman Financial Advisory Inc. AD now owns 1,941 shares of the investment management company's stock valued at $1,748,000 after purchasing an additional 123 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded down $10.80 during midday trading on Friday, hitting $880.48. 2,376,586 shares of the company's stock were exchanged, compared to its average volume of 2,349,202. The Goldman Sachs Group, Inc. has a twelve month low of $740.01 and a twelve month high of $1,153.99. The firm has a market cap of $256.37 billion, a P/E ratio of 12.66, a PEG ratio of 0.94 and a beta of 1.29. The stock's 50 day moving average price is $974.71 and its 200-day moving average price is $989.34. 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 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, topping 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 firm's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.25 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 68.54 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.3%. The Goldman Sachs Group's dividend payout ratio is currently 28.76%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer cut The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research note on Tuesday, June 30th. Loop Capital set a $1,050.00 price target on shares of The Goldman Sachs Group in a report on Thursday, October 8th. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Jefferies Financial Group set a $1,299.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. Finally, Evercore reissued an "outperform" rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $1,051.23.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

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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