RBA Wealth Management LLC Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

RBA Wealth Management LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 45.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,295 shares of the investment management company’s stock after selling 3,629 shares during the quarter. RBA Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $4,344,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Audent Global Asset Management LLC raised its position in The Goldman Sachs Group by 10.1% in the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after purchasing an additional 479 shares during the period. Oak Grove Capital LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at $1,890,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of The Goldman Sachs Group by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company’s stock valued at $124,809,000 after buying an additional 3,653 shares during the period. Global Retirement Partners LLC lifted its stake in The Goldman Sachs Group by 35.0% during the 4th quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company’s stock worth $10,499,000 after acquiring an additional 3,098 shares in the last quarter. Finally, New Age Alpha Advisors LLC lifted its stake in The Goldman Sachs Group by 92.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 14,298 shares of the investment management company’s stock worth $12,568,000 after acquiring an additional 6,867 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $1,050.79 on Tuesday. The business has a 50-day simple moving average of $1,054.45 and a 200-day simple moving average of $962.07. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The Goldman Sachs Group, Inc. has a one year low of $705.55 and a one year high of $1,153.99. The company has a market cap of $305.96 billion, a PE ratio of 16.22, a P/E/G ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results 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 Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter last year, the company earned $10.91 earnings per share. The firm’s revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.78%.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman’s view that a September rate hike is unlikely helped lift broader risk sentiment and could benefit GS through stronger trading, capital-markets and dealmaking conditions. The firm also said markets may still be too hawkish as inflation cools. Odds of Fed Rate Hike This Year Fall as Goldman Sachs Warns Against Hawkish Bets
• Positive Sentiment: GS remains positioned as a potential earnings outperformer: analysts identified it among five highly ranked stocks expected to beat consensus estimates in upcoming results. That view follows the company’s latest quarterly report, which significantly exceeded earnings and revenue expectations. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Neutral Sentiment: Goldman’s research highlighted that artificial intelligence was mentioned by 65% of S&P 500 companies during second-quarter earnings calls, but only a small fraction quantified its earnings impact. The finding reinforces GS’s role in AI-related market research while suggesting that near-term corporate profit benefits remain uncertain. 65% of S&P 500 companies mentioned AI on Q2 earnings calls
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from higher tax refunds fades. A consumer slowdown could weigh on economic activity, credit demand and investor confidence, partially offsetting the benefits of easier financial conditions. Goldman Sachs warns of consumer spending slowdown as tax refund boost fades

Analysts Set New Price Targets

Several research firms have weighed in on GS. Dbs Bank lifted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Bank of America lifted their price objective on shares of 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. Finally, BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,062.86.

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.