Wells Fargo set a $330.00 price objective on Goldman Sachs (NYSE:GS) in a research note issued to investors on Thursday morning. The firm currently has an outperform rating on the investment management company’s stock.
Several other analysts also recently weighed in on the stock. Vetr raised shares of Goldman Sachs from a sell rating to a hold rating and set a $246.36 price target for the company in a research note on Thursday, February 8th. Morgan Stanley lifted their price target on shares of Goldman Sachs from $297.00 to $302.00 and gave the company an overweight rating in a research note on Thursday, March 15th. Zacks Investment Research raised shares of Goldman Sachs from a hold rating to a buy rating and set a $294.00 price target for the company in a research note on Tuesday. BMO Capital Markets decreased their price target on shares of Goldman Sachs to $221.00 and set a market perform rating for the company in a research note on Thursday, January 18th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $280.00 price target on shares of Goldman Sachs in a research note on Thursday, March 15th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $258.79.
Shares of Goldman Sachs stock traded down $2.20 during trading hours on Thursday, hitting $250.40. The company’s stock had a trading volume of 1,381,819 shares, compared to its average volume of 3,510,067. Goldman Sachs has a fifty-two week low of $209.62 and a fifty-two week high of $275.31. The stock has a market capitalization of $99,473.41, a price-to-earnings ratio of 29.07, a PEG ratio of 0.94 and a beta of 1.33. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 3.09.
Goldman Sachs (NYSE:GS) last announced its earnings results on Wednesday, January 17th. The investment management company reported $5.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.90 by $0.78. Goldman Sachs had a return on equity of 11.66% and a net margin of 13.36%. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the previous year, the business earned $5.08 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. analysts expect that Goldman Sachs will post 21.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, February 28th. Goldman Sachs’s payout ratio is presently 34.84%.
In other news, insider R. Martin Chavez sold 11,829 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $268.73, for a total transaction of $3,178,807.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Viniar sold 17,500 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $251.19, for a total transaction of $4,395,825.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,548 shares of company stock worth $22,064,172. Insiders own 2.57% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in GS. Icon Wealth Partners LLC purchased a new stake in shares of Goldman Sachs during the fourth quarter valued at $113,000. Cerebellum GP LLC purchased a new stake in shares of Goldman Sachs during the fourth quarter valued at $122,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Goldman Sachs during the fourth quarter valued at $127,000. Westside Investment Management Inc. grew its holdings in shares of Goldman Sachs by 450.0% during the third quarter. Westside Investment Management Inc. now owns 550 shares of the investment management company’s stock valued at $134,000 after buying an additional 450 shares during the last quarter. Finally, We Are One Seven LLC purchased a new stake in shares of Goldman Sachs during the fourth quarter valued at $137,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
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Goldman Sachs Company Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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