Baystate Wealth Management LLC reduced its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 31.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280 shares of the investment management company’s stock after selling 129 shares during the quarter. Baystate Wealth Management LLC’s holdings in Goldman Sachs Group were worth $56,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Howe & Rusling Inc. bought a new position in shares of Goldman Sachs Group in the 2nd quarter valued at about $35,000. Crewe Advisors LLC lifted its stake in Goldman Sachs Group by 42.8% in the 3rd quarter. Crewe Advisors LLC now owns 207 shares of the investment management company’s stock valued at $42,000 after purchasing an additional 62 shares during the last quarter. Costello Asset Management INC bought a new position in Goldman Sachs Group during the second quarter worth about $44,000. West Oak Capital LLC bought a new position in Goldman Sachs Group during the third quarter worth about $48,000. Finally, CX Institutional increased its position in Goldman Sachs Group by 183.0% during the second quarter. CX Institutional now owns 249 shares of the investment management company’s stock worth $49,000 after buying an additional 161 shares during the last quarter. 68.70% of the stock is currently owned by hedge funds and other institutional investors.
GS opened at $206.21 on Friday. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 6.54 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.82. Goldman Sachs Group Inc has a twelve month low of $130.85 and a twelve month high of $250.46. The company has a 50-day simple moving average of $202.41 and a 200 day simple moving average of $195.54.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, October 19th. The investment management company reported $9.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.57 by $4.11. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $9.40 billion. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 9.07%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.79 EPS. Sell-side analysts anticipate that Goldman Sachs Group Inc will post 14.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Tuesday, December 1st. Goldman Sachs Group’s dividend payout ratio is presently 23.78%.
Several research analysts have recently commented on the company. Credit Suisse Group lifted their target price on Goldman Sachs Group from $240.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. ValuEngine cut shares of Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Royal Bank of Canada set a $225.00 target price on shares of Goldman Sachs Group and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets upped their price target on shares of Goldman Sachs Group from $267.00 to $274.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Bank of America raised their price objective on shares of Goldman Sachs Group from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $249.29.
Goldman Sachs Group Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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