Reston Wealth Management LLC Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Reston Wealth Management LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 152 shares of the investment management company’s stock, valued at approximately $75,000.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Goldman Sachs Group by 19.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 115,760 shares of the investment management company’s stock worth $48,352,000 after buying an additional 18,859 shares during the period. Norden Group LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $2,423,000. FORVIS Wealth Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 26.5% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,108 shares of the investment management company’s stock worth $880,000 after buying an additional 441 shares during the period. Private Advisor Group LLC boosted its holdings in shares of The Goldman Sachs Group by 42.2% during the 1st quarter. Private Advisor Group LLC now owns 26,336 shares of the investment management company’s stock worth $11,000,000 after buying an additional 7,822 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,785,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 1.3 %

The Goldman Sachs Group stock opened at $517.63 on Friday. The company’s 50 day simple moving average is $502.25 and its 200 day simple moving average is $476.22. The Goldman Sachs Group, Inc. has a fifty-two week low of $300.70 and a fifty-two week high of $540.51. The firm has a market capitalization of $163.47 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.76 and a beta of 1.36. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the firm earned $5.47 EPS. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.32%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Citigroup increased their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 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 note on Tuesday, July 16th. Finally, JMP Securities increased their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $524.69.

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.