Goldman Sachs Group Inc (GS) Stake Lifted by Marietta Wealth Management LLC
Marietta Wealth Management LLC lifted its position in Goldman Sachs Group Inc (NYSE:GS) by 7.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,849 shares of the investment management company’s stock after purchasing an additional 782 shares during the period. Goldman Sachs Group comprises approximately 1.6% of Marietta Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Marietta Wealth Management LLC’s holdings in Goldman Sachs Group were worth $2,629,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Goldman Sachs Group by 3,301.2% in the first quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock worth $5,644,114,000 after acquiring an additional 23,847,154 shares during the period. New England Asset Management Inc. lifted its stake in Goldman Sachs Group by 440.8% in the first quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company’s stock worth $535,492,000 after acquiring an additional 1,900,000 shares during the period. Alliancebernstein L.P. lifted its stake in Goldman Sachs Group by 84.4% in the first quarter. Alliancebernstein L.P. now owns 3,221,215 shares of the investment management company’s stock worth $739,978,000 after acquiring an additional 1,474,433 shares during the period. Harbour Capital Advisors LLC lifted its stake in Goldman Sachs Group by 22,290.9% in the second quarter. Harbour Capital Advisors LLC now owns 1,113,050 shares of the investment management company’s stock worth $5,016,000 after acquiring an additional 1,108,079 shares during the period. Finally, FMR LLC lifted its stake in Goldman Sachs Group by 10.9% in the first quarter. FMR LLC now owns 10,995,425 shares of the investment management company’s stock worth $2,525,869,000 after acquiring an additional 1,084,624 shares during the period. Hedge funds and other institutional investors own 73.28% of the company’s stock.
Shares of Goldman Sachs Group Inc (GS) opened at 244.73 on Friday. The company has a market capitalization of $95.01 billion, a P/E ratio of 12.83 and a beta of 1.41. Goldman Sachs Group Inc has a 12-month low of $173.93 and a 12-month high of $255.15. The company has a 50-day moving average price of $233.24 and a 200 day moving average price of $225.75.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 EPS for the quarter, beating analysts’ consensus estimates of $4.17 by $0.85. The business had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same quarter last year, the business posted $4.88 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Goldman Sachs Group Inc will post $18.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 15.63%.
In other Goldman Sachs Group news, Vice Chairman Richard J. Gnodde sold 4,951 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $239.95, for a total value of $1,187,992.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 17,685 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $235.02, for a total value of $4,156,328.70. Following the completion of the sale, the executive vice president now owns 80,109 shares of the company’s stock, valued at $18,827,217.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,486 shares of company stock valued at $7,144,861. 2.57% of the stock is currently owned by company insiders.
A number of analysts recently commented on GS shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group in a research note on Friday, June 23rd. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $260.00 price target on shares of Goldman Sachs Group in a research note on Monday, June 26th. Credit Suisse Group raised their price target on Goldman Sachs Group from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Goldman Sachs Group in a research note on Wednesday, June 28th. Finally, BidaskClub raised Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $244.98.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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