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Multiple hedge funds have adjusted their positions in The Goldman Sachs Group (GS). For instance, 3Chopt Investment Partners LLC invested $252,000, while Granite Bay Wealth Management acquired about $5.53 million in shares. Truist Financial Corp increased its holdings by 3.1%, owning 563,989 shares valued at $255.1 million. Pathway Financial Advisers LLC raised its stake by 1.0%, now holding shares worth $1.96 million. Notably, 71.21% of GS stock is held by institutional investors.
Insider Trading
Insider Brian J. Lee sold 3,500 shares on July 16 at an average price of $505.99, totaling nearly $1.77 million. He retains 12,095 shares valued at about $6.12 million. Additionally, Director Thomas K. Montag sold 10,000 shares for $5.05 million, keeping 12,450 shares worth $6.29 million. Insiders own 0.54% of the company.
Current Stock Performance
Goldman Sachs shares opened at $490.41, with a market cap of $158.14 billion. The stock’s 1-year range is $289.36 to $517.26, with recent earnings per share at $8.62, surpassing estimates. Analysts expect an EPS of $35.43 for the year.
Dividend Increase
Recently, Goldman Sachs announced a quarterly dividend of $3.00 per share, up from $2.75, representing a 2.45% yield. The payout ratio is 46.86%.
Analysts’ Price Targets
Analysts have updated their price targets for GS, with Citigroup setting a target of $485, while Morgan Stanley raised theirs to $561. MarketBeat reports a consensus rating of “Moderate Buy” with an average price target of $496.44.
About Goldman Sachs
The Goldman Sachs Group, Inc. offers financial services globally, spanning banking, wealth management, and solutions across various sectors.
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