abrdn plc trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,211,387 shares of the investment management company’s stock after selling 141,862 shares during the quarter. The Goldman Sachs Group makes up about 1.0% of abrdn plc’s portfolio, making the stock its 15th biggest position. abrdn plc’s holdings in The Goldman Sachs Group were worth $459,758,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of GS. Tortoise Investment Management LLC increased its position in shares of The Goldman Sachs Group by 100.0% in the first quarter. Tortoise Investment Management LLC now owns 100 shares of the investment management company’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in The Goldman Sachs Group during the 1st quarter worth about $37,000. Larson Financial Group LLC raised its holdings in shares of The Goldman Sachs Group by 66.7% in the second quarter. Larson Financial Group LLC now owns 100 shares of the investment management company’s stock valued at $38,000 after buying an additional 40 shares during the last quarter. tru Independence LLC purchased a new position in The Goldman Sachs Group in the second quarter worth $39,000. Finally, Emerald Advisers LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter valued at $42,000. Institutional investors own 70.82% of the company’s stock.
A number of research analysts have issued reports on the company. Oppenheimer boosted their price target on The Goldman Sachs Group from $493.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 14th. Credit Suisse Group raised their price target on The Goldman Sachs Group from $420.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $351.00 to $452.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 16th. Royal Bank of Canada set a $370.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 13th. Finally, Piper Sandler boosted their price objective on shares of The Goldman Sachs Group from $420.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $394.82.
The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 12th. The investment management company reported $15.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.24 by $4.78. The Goldman Sachs Group had a net margin of 33.03% and a return on equity of 23.55%. The firm had revenue of $15.39 billion for the quarter, compared to analysts’ expectations of $12.17 billion. During the same quarter last year, the business earned $6.26 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 52.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 1st will be given a $2.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $1.25. This represents a $8.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Tuesday, August 31st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 23.36%.
About The Goldman Sachs Group
Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.
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