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Multiple hedge funds have adjusted their stakes in Goldman Sachs. 3Chopt Investment Partners acquired a new position worth $252,000, while Granite Bay Wealth Management invested about $5.53 million. Advisory Alpha LLC also purchased shares valued at $200,000. Additionally, Truist Financial increased its holdings by 3.1%, owning 563,989 shares worth $255.1 million after acquiring 16,996 shares. Pathway Financial Advisers raised its stake by 1.0%, bringing its total to 4,376 shares valued at $1.96 million. Overall, institutional investors own 71.21% of the stock.
Insider Transactions
Insider Brian J. Lee sold 3,500 shares on July 16 for $1.77 million, now holding 12,095 shares worth $6.12 million. Director Thomas K. Montag sold 10,000 shares on the same day for $5.05 million, now possessing 12,450 shares valued at $6.29 million. Insiders own 0.54% of the company.
Market Performance
Goldman Sachs shares opened at $490.41, with a market cap of $158.14 billion. The 1-year low is $289.36 and the high is $517.26. The company reported Q2 EPS of $8.62, exceeding estimates, with a return on equity of 10.56% and quarterly revenue of $12.73 billion.
Dividend Announcement
Goldman Sachs announced a quarterly dividend of $3.00, up from $2.75, yielding 2.45%. The dividend payout ratio is 46.86%.
Analysts’ Price Targets
Recent target price adjustments include Citigroup raising to $485, Evercore ISI to $520, and Oppenheimer to $559. The consensus rating is “Moderate Buy” with a target price of $496.44.
About The Goldman Sachs Group
Goldman Sachs provides financial services worldwide, focusing on Global Banking & Markets, Asset & Wealth Management, and Platform Solutions.
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