Meridian Wealth Partners LLC Purchases New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

Meridian Wealth Partners LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 485 shares of the investment management company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of The Goldman Sachs Group by 6.0% in the 4th quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after acquiring an additional 338,181 shares in the last quarter. Fisher Asset Management LLC grew its holdings in The Goldman Sachs Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock worth $2,127,944,000 after purchasing an additional 150,532 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after purchasing an additional 274,989 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of The Goldman Sachs Group by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock valued at $2,044,980,000 after purchasing an additional 141,538 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,903,374,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GS shares. Oppenheimer raised their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Evercore ISI increased their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Barclays lifted their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Citigroup raised their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $496.44.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was 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 in the company, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 0.0 %

Shares of GS stock opened at $485.39 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The stock has a market capitalization of $156.52 billion, a P/E ratio of 18.95, a P/E/G ratio of 0.73 and a beta of 1.36. The firm’s 50 day moving average is $490.99 and its 200 day moving average is $452.97.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. Research analysts expect that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.47%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

The Goldman Sachs Group 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.