Ibex Wealth Advisors Invests in Goldman Sachs Group

Ibex Wealth Advisors has made headlines by acquiring a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS). According to their latest 13F filing with the Securities & Exchange Commission, this acquisition occurred during the fourth quarter of the year. The fund acquired 7,356 shares of Goldman Sachs, with a total value estimated at around $4,212,000.

In addition to Ibex Wealth Advisors, several other institutional investors and hedge funds have either increased or decreased their holdings in Goldman Sachs. For example, Genesee Capital Advisors LLC boosted its position by 1.0% during the fourth quarter. After acquiring an additional 17 shares, Genesee Capital Advisors now controls 1,788 shares valued at about $1,024,000. Waddell & Associates LLC also raised its holdings by 2.1% in the third quarter, now owning 896 shares worth $444,000 after adding another 18 shares. Similarly, another firm, Wescott Financial Advisory Group LLC, increased its stake in Goldman Sachs by 0.7%, owning 2,719 shares valued at $1,346,000.

Moreover, Bank of New Hampshire reported an 8.0% growth in its position, now holding 243 shares valued at $139,000 after acquiring 18 additional shares. Lastly, Marino Stram & Associates LLC increased its holdings by 4.2%, securing 449 shares worth $257,000 after also purchasing an additional 18 shares during the last quarter. Currently, institutional investors and hedge funds collectively own approximately 71.21% of Goldman Sachs stock.

Wall Street Analysts Provide Insights

Various analysts have recently commented on GS shares. Citigroup has raised its price objective for Goldman Sachs from $485.00 to $585.00 and rated the company as “neutral.” Evercore ISI also increased its price target from $520.00 to $575.00, giving it an “outperform” rating. However, HSBC Global Research downgraded the stock from a “strong-buy” to a “hold” rating.

Meanwhile, Wells Fargo & Company raised their forecast on Goldman Sachs shares from $600.00 to $680.00, assigning it an “overweight” rating. Additionally, Keefe, Bruyette & Woods boosted their price target from $686.00 to $690.00, maintaining an “outperform” rating. Overall, eight research analysts rated the stock as a hold while twelve analysts granted it a buy rating, leading to an average rating of "Moderate Buy" with a target price of $591.06, according to data from MarketBeat.com.

Goldman Sachs Stock Performance

On Wednesday, Goldman's shares increased by $7.53, reaching a midday trading price of $645.33. The total trading volume reached 257,340 shares, significantly lower than the average volume of 2,647,018 shares. The stock has seen a one-year low of $375.20 and a high of $645.91, with a market capitalization of $202.57 billion. Current financial ratios indicate a price-to-earnings (P/E) ratio of 15.91, a PEG ratio of 0.88, and a beta of 1.38. The 50-day moving average for the stock is $593.22, while the 200-day average is $538.70.

Recent Earnings and Dividends

The Goldman Sachs Group reported its quarterly earnings on January 15. The company exceeded estimates with earnings per share (EPS) of $11.95, surpassing the consensus estimate of $8.21 by $3.74. Total revenue for the quarter was $13.87 billion, compared to analysts' expectations of $12.36 billion. The firm posted a net margin of 11.32% and a return on equity of 13.30%, demonstrating a revenue increase of 22.5% compared to the previous year.

In addition, Goldman Sachs announced a quarterly dividend, payable on March 28, to shareholders on record as of February 28. This will be a $3.00 dividend, translating to an annualized yield of 1.86%, maintaining a payout ratio of 29.59%.

Insider Trading Activity

In other news from Goldman Sachs, CAO Sheara J. Fredman sold 2,974 shares on November 6 at an average price of $594.51, totaling approximately $1,768,072.74. Following this transaction, Fredman now owns 8,489 shares valued at approximately $5,046,795.39. Additionally, Treasurer Carey Halio sold 1,545 shares on January 21 at an average price of $624.67 for about $965,115.15. After this transaction, Halio holds 8,192 shares valued at roughly $5,117,296.64. Over the last three months, insiders have sold 35,657 shares valued at around $21,973,272, with only 0.54% of shares owned by corporate insiders.

About Goldman Sachs

The Goldman Sachs Group, Inc. is a major financial institution that provides a variety of financial services to corporations, governments, financial institutions, and individuals globally. Its operations encompass areas including Global Banking & Markets, Asset & Wealth Management, and Platform Solutions, providing services ranging from financial advisory to strategic advisory services related to mergers and acquisitions.

Investment, Stocks, Goldman