Valueworks LLC Has $5.65 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Sep 9th, 2023

Valueworks LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,284 shares of the investment management company’s stock after selling 711 shares during the period. The Goldman Sachs Group comprises about 2.2% of Valueworks LLC’s investment portfolio, making the stock its 17th biggest holding. Valueworks LLC’s holdings in The Goldman Sachs Group were worth $5,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GS. Morgan Stanley lifted its holdings in shares of The Goldman Sachs Group by 40.0% during the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after buying an additional 1,696,350 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 2.9% during the 1st quarter. Fisher Asset Management LLC now owns 5,044,608 shares of the investment management company’s stock valued at $1,650,142,000 after buying an additional 144,177 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of The Goldman Sachs Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,764,509 shares of the investment management company’s stock valued at $1,396,236,000 after buying an additional 52,016 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of The Goldman Sachs Group by 608.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,390,752 shares of the investment management company’s stock valued at $114,359,000 after purchasing an additional 2,053,162 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in shares of The Goldman Sachs Group by 4.2% in the 4th quarter. Putnam Investments LLC now owns 2,245,996 shares of the investment management company’s stock valued at $771,230,000 after purchasing an additional 89,985 shares during the last quarter. Institutional investors and hedge funds own 69.06% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of The Goldman Sachs Group in a research note on Thursday, July 20th. Credit Suisse Group restated an “outperform” rating and issued a $410.00 target price on shares of The Goldman Sachs Group in a report on Thursday, July 20th. Societe Generale lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Oppenheimer cut their target price on shares of The Goldman Sachs Group from $483.00 to $461.00 and set an “outperform” rating for the company in a research report on Friday, August 18th. Finally, Odeon Capital Group raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $355.75 target price for the company in a research report on Thursday, July 13th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.04.

View Our Latest Research Report on The Goldman Sachs Group

Insider Buying and Selling

In related news, CEO David M. Solomon sold 4,200 shares of The Goldman Sachs Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the completion of the sale, the chief executive officer now directly owns 124,782 shares of the company’s stock, valued at $44,457,330.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO David M. Solomon sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the completion of the transaction, the chief executive officer now owns 124,782 shares in the company, valued at $44,457,330.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $345.71, for a total transaction of $3,457,100.00. Following the transaction, the chief executive officer now owns 128,982 shares of the company’s stock, valued at approximately $44,590,367.22. The disclosure for this sale can be found here. Insiders sold a total of 10,159,686 shares of company stock valued at $123,960,027 over the last three months. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 1.0 %

GS stock opened at $325.28 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $107.24 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.25 and a beta of 1.40. The Goldman Sachs Group, Inc. has a fifty-two week low of $287.75 and a fifty-two week high of $389.58. The business has a fifty day moving average price of $334.45 and a 200 day moving average price of $331.82.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its earnings results on Wednesday, July 19th. The investment management company reported $3.08 EPS for the quarter, missing the consensus estimate of $3.25 by ($0.17). The firm had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.61 billion. The Goldman Sachs Group had a net margin of 9.74% and a return on equity of 8.27%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the business posted $7.73 earnings per share. Analysts expect that The Goldman Sachs Group, Inc. will post 25.74 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be given a dividend of $2.75 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $11.00 annualized dividend and a dividend yield of 3.38%. The Goldman Sachs Group’s payout ratio is currently 46.93%.

About The Goldman Sachs Group

(Free Report)

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in resale agreements.