5 Best Cheap Stocks to Buy Now

3. The Goldman Sachs Group, Inc. (NYSE:GS)

Forward P/E Ratio: 8.61

Number of Hedge Fund Holders: 69

The Goldman Sachs Group, Inc. (NYSE:GS) is a financial organization that provides a range of financial services to businesses, financial institutions, governments, and people worldwide.

Since financial organizations are susceptible to economic trends such as future recessions, The Goldman Sachs Group, Inc. (NYSE:GS) stock could decline if economic conditions continue to slow.

Given its strong position in the capital market, however, The Goldman Sachs Group, Inc. (NYSE:GS) stock could rebound if the economy doesn’t slow as much as expected.

In the longer term, The Goldman Sachs Group, Inc. (NYSE:GS) remains a blue chip stock that could continue to grow earnings and dividends.

With a forward P/E ratio of 8.61, The Goldman Sachs Group, Inc. (NYSE:GS) could be considered cheap for long term investors.

As of the end of Q2 2022, 69 of the hedge funds tracked by Insider Monkey owned stakes in The Goldman Sachs Group, Inc. (NYSE:GS). Those stakes held a collective value of over $4.61 billion.