Audent Global Asset Management LLC Cuts Position in The Goldman Sachs Group, Inc. $GS

Audent Global Asset Management LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 48.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,687 shares of the investment management company’s stock after selling 2,551 shares during the period. The Goldman Sachs Group makes up 2.4% of Audent Global Asset Management LLC’s portfolio, making the stock its 17th biggest position. Audent Global Asset Management LLC’s holdings in The Goldman Sachs Group were worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth about $26,000. Manning & Napier Advisors LLC lifted its position in shares of The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Steph & Co. acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $29,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GS. Citigroup boosted their price objective on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research report on Thursday. Dbs Bank boosted their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, UBS Group raised their price target on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1,061.43.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,566 shares of company stock valued at $30,712,978 over the last three months. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $1,066.28 on Friday. The company has a market cap of $314.56 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.30. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The Goldman Sachs Group, Inc. has a fifty-two week low of $691.88 and a fifty-two week high of $1,153.99. The firm has a fifty day moving average price of $1,035.20 and a two-hundred day moving average price of $945.44.

The Goldman Sachs Group (NYSE:GS) last issued 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 return on equity of 18.59% and a net margin of 15.53%.The Goldman Sachs Group’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the business earned $10.91 earnings per share. Analysts expect that The Goldman Sachs Group, Inc. will post 64.34 EPS for the current year.

The Goldman Sachs Group Increases Dividend

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

About The Goldman Sachs Group

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.