Wedmont Private Capital Grows Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Wedmont Private Capital increased its Goldman Sachs position by 26.6% in the third quarter, bringing its holdings to 7,523 shares valued at approximately $6.64 million. Institutional investors and hedge funds collectively own 71.21% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1,055.09, despite bullish upgrades from Barclays, Bank of America and TD Cowen.
• Goldman Sachs reported strong quarterly results, including $20.98 in earnings per share and $20.34 billion in revenue, while raising its quarterly dividend to $5.00 per share, equivalent to a 2.2% yield.

Wedmont Private Capital raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 26.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,523 shares of the investment management company's stock after acquiring an additional 1,581 shares during the quarter. Wedmont Private Capital's holdings in The Goldman Sachs Group were worth $6,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intelligence Driven Advisers LLC boosted its stake in shares of The Goldman Sachs Group by 38.9% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 425 shares of the investment management company's stock worth $383,000 after buying an additional 119 shares during the last quarter. Athena Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 9.8% in the third quarter. Athena Wealth Management LLC now owns 1,123 shares of the investment management company's stock valued at $1,011,000 after acquiring an additional 100 shares during the last quarter. Journey Retirement Planning & Investment Management LLC bought a new stake in The Goldman Sachs Group during the third quarter worth about $211,000. Breakwater Capital Group boosted its position in The Goldman Sachs Group by 10.6% during the third quarter. Breakwater Capital Group now owns 1,046 shares of the investment management company's stock valued at $942,000 after purchasing an additional 100 shares during the last quarter. Finally, LifeGoal Investments LLC bought a new position in The Goldman Sachs Group in the third quarter valued at approximately $241,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays upped their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. UBS Group lowered their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Monday. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 18th. Finally, Bank of America increased their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average target price of $1,055.09.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded up $7.00 during midday trading on Friday, hitting $889.59. 805,509 shares of the company's stock were exchanged, compared to its average volume of 2,194,513. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 12 month low of $740.01 and a 12 month high of $1,153.99. The company's 50 day moving average price is $992.83 and its 200 day moving average price is $987.89. The firm has a market capitalization of $259.02 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29.

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 analysts' consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business had revenue of $20.34 billion for the quarter, compared to analysts' expectations of $16.22 billion. During the same quarter in the prior year, the business earned $10.91 EPS. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were given a $5.00 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is currently 30.87%.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: TD Cowen upgraded GS to “Strong Buy”, while initiating coverage with a $1,050 price target—about 18% above the referenced share price. The upgrade provides a significant positive catalyst ahead of earnings. TD Cowen coverage and Goldman earnings projections
• Positive Sentiment: Goldman Sachs is scheduled to report third-quarter results before the market opens on October 13. Analysts expect strong equity trading and investment-banking revenue to support growth, with Wall Street projecting another substantial year-over-year earnings increase. Goldman is also expected to be among the leaders in an estimated $19 billion quarterly trading-revenue pool. Goldman stock before Q3 earnings
• Positive Sentiment: Goldman continues to win advisory mandates, including being hired by Cinven to help revive a potential $2 billion JLA sale. A stronger deal pipeline could benefit the firm’s investment-banking fees. Goldman hired by Cinven for JLA sale
• Neutral Sentiment: BMO Capital retained its “Hold” rating, offering a more cautious counterpoint to TD Cowen’s bullish call. The upcoming earnings report remains the key near-term test. BMO maintains Hold rating
• Negative Sentiment: Higher bond yields have recently pressured GS shares, while softer fixed-income, currencies and commodities activity and elevated expenses could limit third-quarter results. Goldman stock and rising bond yields
• Negative Sentiment: Goldman plans more than $500 million in special equity awards for senior executives. The awards recognize long-term performance but may raise investor concerns about compensation costs and potential shareholder dilution. Goldman executive special bonuses

The Goldman Sachs Group 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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