10 Large-Cap Stocks American Politicians Are Buying

2. Goldman Sachs Group Inc (NYSE:GS)

Number of Hedge Fund Investors: 69

Republican Congresswoman Marjorie Taylor Greene on April 24 bought a stake worth between $1,00 t0 $15,000 in Goldman Sachs Group Inc (NYSE:GS). She bought shares of Goldman Sachs Group Inc (NYSE:GS) at $423.04 apiece. Since this transaction the stock has gained about 5%.

As of the end of the last quarter of 2023, 69 hedge funds had stakes in Goldman Sachs Group Inc (NYSE:GS).

On April 15, Goldman Sachs Group Inc (NYSE:GS) posted Q1 results. Adjusted EPS in the period came in at $11.58, beating estimates by $2.90. Revenue in the period jumped 16.3% year over year to $14.21 billion.

Ariel Focus Fund stated the following regarding The Goldman Sachs Group, Inc. (NYSE:GS) in its fourth quarter 2023 investor letter:

“Global investment bank, The Goldman Sachs Group, Inc. (NYSE:GS), also increased in the period on solid earnings results. The top-line came in strong led by elevated financing activity and an improvement in advisory revenues, despite weak transaction volumes within the investment banking segment. Should conditions remain conducive, management remains cautiously optimistic the business will experience continued recovery in both capital markets and strategy activity. Meanwhile, GS continues to successfully execute on its strategic initiatives to improve the overall return of the company. It is right sizing headcount and narrowing its ambitions in consumer strategy through divestitures and an enhanced focus on driving profitability in Platform Solutions by 2025. With potential regulatory capital constraints from B3E, GS noted it will reign in buybacks over the short-term but maintain its dividend. Looking ahead, we continue to view the near and long-term outlook for Goldman as attractive at current levels, given favorable business trends, continued positive momentum on strategic initiatives and active expense/capital management programs.”