On September 19, 2023, it was reported that Ferguson Wellman Capital Management Inc. had acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter. According to the filing with the SEC, the firm purchased 1,061 shares of the investment management company’s stock at a value of approximately $342,000.
This acquisition by Ferguson Wellman Capital Management Inc. indicates their confidence in The Goldman Sachs Group as an investment opportunity. It is important to note that this transaction occurred during the second quarter and may not reflect the current stance of Ferguson Wellman Capital Management Inc.
The most recent quarterly earnings results of The Goldman Sachs Group were posted on July 19th, prior to this acquisition. The company reported earnings per share (EPS) of $3.08 for the quarter, which fell short of the consensus estimate of $3.25 by ($0.17). Despite this, The Goldman Sachs Group maintained a return on equity of 8.27% and a net margin of 9.74%.
In terms of revenue, The Goldman Sachs Group generated $10.90 billion for the quarter, surpassing analyst estimates of $10.61 billion. Although there was an 8.1% decrease compared to the same quarter in the previous year, it is essential to consider other factors that may have influenced these results.
Looking ahead to future prospects, analysts predict that The Goldman Sachs Group, Inc.’s earnings per share for the current fiscal year will amount to around 25.55.
It is worth noting that financial markets are subject to fluctuations and uncertainties due to various internal and external factors such as market conditions and global events beyond a company’s control. Investors should carefully consider multiple sources of information before making any investment decisions related to The Goldman Sachs Group or any other entity.
In conclusion, Ferguson Wellman Capital Management Inc.’s acquisition of a new stake in The Goldman Sachs Group, Inc. reflects their belief in the potential of this investment. Nevertheless, investors should exercise caution and conduct thorough research to ensure informed decision-making.
Activision Blizzard, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
8:00 PM (UTC)
Date:19 September, 2023
|Analyst / firm||Rating|
BOCOM International Holdings Company
Recent Developments and Ratings of The Goldman Sachs Group
As of September 19, 2023, several hedge funds and institutional investors have made significant changes to their positions in The Goldman Sachs Group. Norway Savings Bank, for instance, has increased its stake in the investment management company by 116.9% during the second quarter. This move has resulted in Norway Savings Bank now owning 1,967 shares of The Goldman Sachs Group’s stock valued at $634,000.
Similarly, Brookstone Capital Management has also shown an increased interest in The Goldman Sachs Group by raising its stake by 26.3% during the same period. As a result, they now own 14,389 shares of the company’s stock worth $4,535,000.
Bard Financial Services Inc., Mechanics Bank Trust Department, and Sanders Morris Harris LLC are among other institutional investors who have made adjustments to their positions in The Goldman Sachs Group. Each investor has either acquired additional shares or increased their stakes in the investment management company.
It is worth noting that about 69.06% of The Goldman Sachs Group’s stock is currently owned by institutional investors and hedge funds.
In light of these recent developments, various brokerages have commented on GS (The Goldman Sachs Group). Citigroup downgraded its rating from “buy” to “neutral” while simultaneously raising the price target from $370.00 to $400.00 per share back on July 25th.
Oppenheimer took a different approach by reducing their price target on The Goldman Sachs Group from $483.00 to $461.00 and maintaining an “outperform” rating for the company on August 18th.
Credit Suisse Group reiterated an “outperform” rating with a price objective of $410.00 on July 20th.
JMP Securities reaffirmed a “market outperform” rating and provided a target price of $450.00 for The Goldman Sachs Group’s stock on September 12th.
Furthermore, Atlantic Securities upgraded the rating of The Goldman Sachs Group from “underweight” to “neutral” on August 1st, accompanied by an increase in the price objective from $330.00 to $351.00 per share.
Overall, data from Bloomberg reveals that the average rating for The Goldman Sachs Group’s stock is currently “Moderate Buy,” with an average target price of $396.04 per share.
In other news related to The Goldman Sachs Group, CEO David M. Solomon conducted multiple stock transactions recently. On August 1st, he sold 4,200 shares at an average price of $356.28 per share, resulting in a total transaction value of $1,496,376.00. Following this sale, Solomon now holds 124,782 shares valued at approximately $44,457,330.96.
Additionally, on July 20th, CEO David M. Solomon sold another 10,000 shares of the company’s stock at an average price of $345.71 per share totaling $3,457,100.00 and bringing his total holding to 128,982 shares worth around $44,590,367.22.
It is noteworthy that insiders have collectively sold 1,159,686 shares valued at approximately $18,390,027 within the past 90 days. Currently, insiders own around 0.54% of The Goldman Sachs Group’s stock.
As for its performance in the market today (September 19th), shares of The Goldman Sachs Group opened at $343.36.
The investment management company boasts a quick ratio and current ratio both standing at 0.81 and carries a debt-to-equity ratio of 2.18.
Over the past year (from September) The Goldman Sachs Group has seen a low point of $287.75 and a high point of $389.58.
As we examine its financial standing, The Goldman Sachs Group currently holds a market capitalization of $113.20 billion with a price-to-earnings ratio of 14.65 and a PEG ratio of 1.34. With a beta of 1.40, it exhibits a moderate level of volatility.
In terms of its moving average over the past 50 days, The Goldman Sachs Group’s share price is recorded at $335.98, while its two-hundred-day moving average stands at $330.61.
These recent developments and figures outline an interesting and intricate set of activities within The Goldman Sachs Group as it continues to navigate the financial markets and strengthen its position as an investment management company.