The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,404 shares of the investment management company’s stock after acquiring an additional 254 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in The Goldman Sachs Group were worth $3,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new position in The Goldman Sachs Group during the 4th quarter worth $162,000. SVB Wealth LLC grew its holdings in shares of The Goldman Sachs Group by 7.4% during the fourth quarter. SVB Wealth LLC now owns 9,021 shares of the investment management company’s stock worth $3,480,000 after buying an additional 623 shares during the last quarter. Wealth Alliance increased its position in The Goldman Sachs Group by 17.3% in the 4th quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock valued at $399,000 after acquiring an additional 153 shares during the period. Rakuten Securities Inc. acquired a new position in The Goldman Sachs Group in the 4th quarter valued at about $89,000. Finally, KLCM Advisors Inc. purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $270,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded up $5.24 on Friday, hitting $504.26. The company’s stock had a trading volume of 1,587,216 shares, compared to its average volume of 2,331,405. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The firm has a fifty day moving average price of $475.05 and a 200-day moving average price of $436.08. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26. The company has a market capitalization of $162.61 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.26%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $3.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.38%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock valued at $32,181,365 over the last three months. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays boosted their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI upped their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley lifted their target price on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Oppenheimer lifted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.