Wells Fargo set a $330.00 target price on Goldman Sachs (NYSE:GS) in a report released on Sunday morning. The firm currently has a buy rating on the investment management company’s stock.
Several other analysts have also commented on GS. Zacks Investment Research raised Goldman Sachs from a hold rating to a buy rating and set a $291.00 target price on the stock in a report on Tuesday, December 19th. Vertical Group raised Goldman Sachs from a hold rating to a buy rating in a report on Friday, December 29th. Barclays raised their target price on Goldman Sachs from $262.00 to $308.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Instinet reaffirmed an outperform rating and set a $225.00 target price (down from $238.00) on shares of Goldman Sachs in a report on Thursday, January 4th. Finally, Vining Sparks reaffirmed a hold rating and set a $270.00 target price on shares of Goldman Sachs in a report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Goldman Sachs has a consensus rating of Hold and an average price target of $258.79.
Goldman Sachs stock opened at $249.97 on Friday. The stock has a market cap of $94,960.35, a P/E ratio of 12.65, a P/E/G ratio of 0.89 and a beta of 1.36. Goldman Sachs has a 52 week low of $209.62 and a 52 week high of $275.31. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 3.09.
Goldman Sachs (NYSE:GS) last posted its earnings results on Wednesday, January 17th. The investment management company reported $5.68 EPS for the quarter, topping the consensus estimate of $4.90 by $0.78. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.64 billion. Goldman Sachs had a return on equity of 11.66% and a net margin of 13.36%. Goldman Sachs’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $5.08 earnings per share. research analysts anticipate that Goldman Sachs will post 21.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, February 28th. Goldman Sachs’s payout ratio is currently 15.18%.
In other news, insider R. Martin Chavez sold 11,829 shares of Goldman Sachs stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $268.73, for a total value of $3,178,807.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 6,738 shares of Goldman Sachs stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $263.92, for a total value of $1,778,292.96. The disclosure for this sale can be found here. Insiders sold 83,548 shares of company stock worth $22,064,172 over the last ninety days. Corporate insiders own 1.71% of the company’s stock.
Several large investors have recently modified their holdings of GS. Cambridge Investment Research Advisors Inc. lifted its position in Goldman Sachs by 33.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,069 shares of the investment management company’s stock worth $2,820,000 after buying an additional 2,773 shares in the last quarter. Colonial Trust Advisors lifted its position in Goldman Sachs by 34.8% during the fourth quarter. Colonial Trust Advisors now owns 24,448 shares of the investment management company’s stock worth $6,228,000 after buying an additional 6,308 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in Goldman Sachs by 4.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 65,142 shares of the investment management company’s stock worth $16,596,000 after buying an additional 2,626 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Goldman Sachs by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 51,515 shares of the investment management company’s stock worth $13,125,000 after buying an additional 1,654 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Goldman Sachs by 12.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 159,815 shares of the investment management company’s stock worth $40,714,000 after buying an additional 18,293 shares in the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.
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About Goldman Sachs
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through 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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