Traders Sell Shares of Goldman Sachs (GS) on Strength (GS)

Investors sold shares of Goldman Sachs (NYSE:GS) on strength during trading on Thursday. $222.97 million flowed into the stock on the tick-up and $282.89 million flowed out of the stock on the tick-down, for a money net flow of $59.92 million out of the stock. Of all stocks tracked, Goldman Sachs had the 7th highest net out-flow for the day. Goldman Sachs traded up $0.17 for the day and closed at $254.17

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Goldman Sachs in a report on Wednesday. Credit Suisse Group lifted their price target on shares of Goldman Sachs from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer lifted their price target on shares of Goldman Sachs from $280.00 to $308.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $245.00 price target (up from $221.00) on shares of Goldman Sachs in a report on Wednesday. Finally, Buckingham Research lifted their price target on shares of Goldman Sachs from $285.00 to $292.00 and gave the company a “neutral” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $266.29.

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The company has a market capitalization of $96,350.74, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.02 and a beta of 1.37. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69.

Goldman Sachs (NYSE:GS) last issued its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $1.37. The company had revenue of $10.04 billion during the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs had a net margin of 14.27% and a return on equity of 12.10%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.15 EPS. research analysts predict that Goldman Sachs will post 21.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, May 31st will be paid a $0.80 dividend. This is a positive change from Goldman Sachs’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, May 30th. Goldman Sachs’s dividend payout ratio is currently 15.18%.

In related news, insider David M. Solomon sold 21,252 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $271.65, for a total value of $5,773,105.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Lee sold 6,738 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $263.92, for a total transaction of $1,778,292.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,048 shares of company stock valued at $17,668,347. Company insiders own 2.57% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GS. Icon Wealth Partners LLC bought a new stake in shares of Goldman Sachs in the 4th quarter worth approximately $113,000. Cerebellum GP LLC bought a new stake in shares of Goldman Sachs in the 4th quarter worth approximately $122,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Goldman Sachs in the 4th quarter worth approximately $127,000. We Are One Seven LLC bought a new stake in shares of Goldman Sachs in the 4th quarter worth approximately $137,000. Finally, Waldron LP bought a new stake in shares of Goldman Sachs in the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 73.21% of the company’s stock.

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Goldman Sachs Company Profile

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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