The Goldman Sachs Group, Inc. $GS Shares Sold by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,439 shares of the investment management company’s stock after selling 677 shares during the quarter. Trinity Legacy Partners LLC’s holdings in The Goldman Sachs Group were worth $5,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GS. Sky Investment Group LLC grew its stake in 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 acquiring an additional 10 shares during the last quarter. Warren Street Wealth Advisors LLC raised its position 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 worth $272,000 after acquiring an additional 10 shares during the last quarter. Optas LLC raised its position in The Goldman Sachs Group by 0.4% during the fourth quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock worth $2,244,000 after acquiring an additional 11 shares during the last quarter. Pines Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 0.4% in the fourth quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after purchasing an additional 11 shares in the last quarter. Finally, Welch & Forbes LLC grew its position in shares of The Goldman Sachs Group by 0.8% in the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on GS. UBS Group raised their price objective on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Dbs Bank increased their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Citigroup raised their price target on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Bank of America upped their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,062.86.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,050.79 on Tuesday. The Goldman Sachs Group, Inc. has a 1 year low of $705.55 and a 1 year high of $1,153.99. The company’s 50 day simple moving average is $1,054.45 and its 200 day simple moving average is $962.07. The company has a market capitalization of $305.96 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.05 and a beta of 1.30. 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 (NYSE:GS) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping 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 19.16%. The Goldman Sachs Group’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the company earned $10.91 EPS. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

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

The Goldman Sachs Group Company 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.