The Goldman Sachs Group (NYSE:GS) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $926.09 and traded as high as $932.48. The Goldman Sachs Group shares last traded at $927.1140, with a volume of 1,437,640 shares traded.

Trending Headlines about The Goldman Sachs Group

These are some of the GS headlines that stood out recently:

• Positive Sentiment: CEO David Solomon cited strong demand for AI infrastructure financing, and Goldman is involved in the planned Anthropic IPO. Financing and underwriting activity could create opportunities for the firm. Article: Goldman Sachs Sees Strong Demand for AI Infrastructure Financing
• Neutral Sentiment: Goldman analysts reportedly project Anthropic could generate $685 billion in revenue by 2030. That forecast underscores the scale of the potential IPO opportunity, but depends on highly ambitious growth assumptions. Article: Goldman Sees Anthropic Revenue Hitting $685 Billion by 2030
• Negative Sentiment: After hotter inflation data, Goldman revised its rate outlook to include further Fed tightening. Higher rates and uncertainty could weigh on market sentiment and deal activity, although rate volatility may also create trading opportunities. Article: Why Goldman Sachs Is Changing Its Federal Reserve Interest-Rate Forecast

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GS. Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. Weiss Ratings cut shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Barclays upped their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Royal Bank Of Canada cut their target price on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 14th. Finally, Wall Street Zen cut The Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $1,052.04.

The Goldman Sachs Group Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 3.20. The company has a fifty day moving average price of $926.09 and a two-hundred day moving average price of $956.18. The firm has a market cap of $267.41 billion, a P/E ratio of 13.33, a PEG ratio of 0.85 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The business had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $16.83 billion. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The Goldman Sachs Group’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 business earned $12.25 EPS. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a $5.00 dividend. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 28.76%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CEO David Solomon sold 12,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the completion of the sale, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ericka Leslie sold 100 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $926.28, for a total value of $92,628.00. Following the completion of the sale, the insider directly owned 10,460 shares in the company, valued at approximately $9,688,888.80. This represents a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last three months. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors have recently made changes to their positions in GS. Patron Partners LLC grew its stake in shares of The Goldman Sachs Group by 12.0% in the third quarter. Patron Partners LLC now owns 1,752 shares of the investment management company’s stock valued at $1,578,000 after acquiring an additional 188 shares in the last quarter. Advisors Asset Management Inc. bought a new position in The Goldman Sachs Group during the third quarter worth about $59,357,000. Edmond DE Rothschild Holding S.A. increased its position in The Goldman Sachs Group by 68.4% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 1,293 shares of the investment management company’s stock worth $1,164,000 after acquiring an additional 525 shares during the period. Private Wealth Asset Management LLC raised its stake in The Goldman Sachs Group by 107.9% in the 3rd quarter. Private Wealth Asset Management LLC now owns 2,644 shares of the investment management company’s stock worth $2,289,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Alteri Wealth LLC raised its stake in The Goldman Sachs Group by 4.3% in the 3rd quarter. Alteri Wealth LLC now owns 1,126 shares of the investment management company’s stock worth $1,014,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc. is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide. The company’s businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.