The Goldman Sachs Group Inc. (NYSE: GS) stock jumped 2.86% on Thursday to $344.57 against a previous-day closing price of $334.98. With 2.79 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.22 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $345.12 whereas the lowest price it dropped to was $336.85. The 52-week range on GS shows that it touched its highest point at $389.58 and its lowest point at $287.75 during that stretch. It currently has a 1-year price target of $383.77. With its current market cap of 112.35 billion, GS has annualized dividend of $11.00 while the current yield stands at 3.19%. Beta for the stock currently stands at 1.39.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GS was up-trending over the past week, with a rise of 7.02%, but this was up by 3.72% over a month. Three-month performance surged to 1.82% while six-month performance rose 10.37%. The stock gained 4.93% in the past year, while it has gained 0.35% so far this year. A look at the trailing 12-month EPS for GS yields 23.44 with Next year EPS estimates of 36.41. For the next quarter, that number is 7.03. This implies an EPS growth rate of -49.40% for this year and 38.54% for next year. EPS is expected to grow by 10.45% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 8.70%.
Float and Shares Shorts:
At present, 342.30 million GS shares are outstanding with a float of 326.70 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.25 million, which was 0.98% higher than short shares on Jul 30, 2023. In addition to Mr. David Solomon as the firm’s Chairman & CEO, Mr. John E. Waldron serves as its Pres & COO.
Through their ownership of 71.41% of GS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.87% of GS, in contrast to 37.84% held by mutual funds. Shares owned by individuals account for 33.37%. As the largest shareholder in GS with 8.30% of the stake, The Vanguard Group, Inc. holds 27,580,129 shares worth 27,580,129. A second-largest stockholder of GS, SSgA Funds Management, Inc., holds 19,822,469 shares, controlling over 5.96% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GS, holding 14,972,193 shares or 4.50% stake. With a 2.86% stake in GS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 9,495,377 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.20% of GS stock, is the second-largest Mutual Fund holder. It holds 7,310,982 shares valued at 2.6 billion. SPDR Dow Jones Industrial Average holds 1.73% of the stake in GS, owning 5,757,810 shares worth 2.05 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GS analysts setting a high price target of $461.00 and a low target of $305.00, the average target price over the next 12 months is $383.23. Based on these targets, GS could surge 33.79% to reach the target high and fall by -11.48% to reach the target low. Reaching the average price target will result in a growth of 11.22% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GS stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 14,200 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 200,558 while 171,121 shares were sold.