Gamble Jones Investment Counsel reduced its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 8.4% in the 1st quarter, HoldingsChannel reports. The firm owned 2,700 shares of the investment management company’s stock after selling 246 shares during the period. Gamble Jones Investment Counsel’s holdings in Goldman Sachs Group were worth $680,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new position in shares of Goldman Sachs Group during the fourth quarter worth $113,000. Cerebellum GP LLC acquired a new position in shares of Goldman Sachs Group during the fourth quarter worth $122,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Goldman Sachs Group during the fourth quarter worth $127,000. We Are One Seven LLC acquired a new position in shares of Goldman Sachs Group during the fourth quarter worth $137,000. Finally, Crewe Advisors LLC increased its holdings in shares of Goldman Sachs Group by 65.5% during the first quarter. Crewe Advisors LLC now owns 581 shares of the investment management company’s stock worth $146,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price target on shares of Goldman Sachs Group from $294.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. reissued a “buy” rating and issued a $280.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, March 15th. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $294.00 price objective on the stock in a research note on Tuesday, March 20th. Wells Fargo & Co set a $330.00 price objective on shares of Goldman Sachs Group and gave the stock an “outperform” rating in a research note on Thursday, March 22nd. Finally, Vetr cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $246.36 price objective on the stock. in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. Goldman Sachs Group has an average rating of “Hold” and an average price target of $266.78.
Shares of GS opened at $235.01 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.12. The firm has a market cap of $89.83 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.82 and a beta of 1.38. Goldman Sachs Group Inc has a 12 month low of $209.62 and a 12 month high of $275.31.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 EPS for the quarter, beating the Zacks’ consensus estimate of $5.58 by $1.37. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $8.73 billion. Goldman Sachs Group had a net margin of 14.27% and a return on equity of 12.58%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.15 earnings per share. sell-side analysts predict that Goldman Sachs Group Inc will post 23.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, May 31st will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, May 30th. This represents a $3.20 dividend on an annualized basis and a yield of 1.36%. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.75. Goldman Sachs Group’s dividend payout ratio is 15.18%.
In other news, insider David M. Solomon sold 3,497 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $244.40, for a total transaction of $854,666.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.57% of the company’s stock.
Goldman Sachs Group 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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