Opal Wealth Advisors LLC Sells 770 Shares of The Goldman Sachs Group, Inc. $GS

Opal Wealth Advisors LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 54.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 640 shares of the investment management company’s stock after selling 770 shares during the quarter. Opal Wealth Advisors LLC’s holdings in The Goldman Sachs Group were worth $576,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GS. BlackRock Inc. purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $24,172,123,000. Bank of America Corp DE bought a new position in shares of The Goldman Sachs Group during the second quarter valued at about $6,756,772,000. Orange County Employees Retirement System purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $69,537,544,000. Bank of New York Mellon Corp purchased a new position in shares of The Goldman Sachs Group in the second quarter worth $2,560,028,000. Finally, Corient Private Wealth LLC increased its position in shares of The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock traded down $10.80 during trading hours on Friday, reaching $880.48. 2,376,586 shares of the stock traded hands, compared to its average volume of 2,349,202. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82. The Goldman Sachs Group, Inc. has a one year low of $740.01 and a one year high of $1,153.99. The firm has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.94 and a beta of 1.29. The company has a 50 day moving average price of $974.71 and a 200 day moving average price of $989.34.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping the consensus estimate of $12.86 by $4.15. The business had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted $12.25 EPS. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 68.54 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 28.76%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GS shares. Keefe, Bruyette & Woods reduced their target price on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a research note on Wednesday. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank Of Canada dropped their price target on shares of 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. Finally, UBS Group cut their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1,051.23.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.