Spartan Wealth Advisory Services LLC Buys Shares of 5,040 The Goldman Sachs Group, Inc. $GS

Spartan Wealth Advisory Services LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,040 shares of the investment management company’s stock, valued at approximately $4,264,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Ascent Wealth Partners LLC boosted its holdings in The Goldman Sachs Group by 4.7% in the first quarter. Ascent Wealth Partners LLC now owns 7,518 shares of the investment management company’s stock worth $6,360,000 after acquiring an additional 340 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in shares of The Goldman Sachs Group by 1.8% during the first quarter. Aviance Capital Partners LLC now owns 5,940 shares of the investment management company’s stock valued at $5,025,000 after acquiring an additional 106 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 2.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,272 shares of the investment management company’s stock valued at $3,614,000 after acquiring an additional 91 shares in the last quarter. GatePass Capital LLC raised its position in shares of The Goldman Sachs Group by 17.8% in the 1st quarter. GatePass Capital LLC now owns 278 shares of the investment management company’s stock worth $235,000 after purchasing an additional 42 shares during the last quarter. Finally, Dorsey Wright & Associates raised its position in shares of The Goldman Sachs Group by 72.8% in the 1st quarter. Dorsey Wright & Associates now owns 9,989 shares of the investment management company’s stock worth $8,451,000 after purchasing an additional 4,208 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

Analysts Set New Price Targets

Several analysts recently commented on GS shares. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a report on Wednesday. Daiwa Securities Group upped their price objective on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Barclays increased their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1,061.43.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares of the company’s stock, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the sale, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,566 shares of company stock valued at $30,712,978 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $1,066.28 on Friday. The firm’s 50-day moving average price is $1,035.20 and its 200-day moving average price is $945.44. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The company has a market cap of $314.56 billion, a PE ratio of 16.46, a PEG ratio of 1.20 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $691.88 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 firm 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 18.59%. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the company earned $10.91 earnings per share. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 66.83 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 30.87%.

The Goldman Sachs Group 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.