Carmel Capital Partners LLC Acquires New Position in The Goldman Sachs Group, Inc. $GS

Carmel Capital Partners LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 340 shares of the investment management company’s stock, valued at approximately $241,000.

Several other large investors also recently bought and sold shares of the business. Arista Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter valued at about $2,803,000. AssuredPartners Investment Advisors LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter valued at about $217,000. Private Trust Co. NA grew its stake in The Goldman Sachs Group by 24.0% during the 2nd quarter. Private Trust Co. NA now owns 4,385 shares of the investment management company’s stock valued at $3,104,000 after acquiring an additional 849 shares in the last quarter. Angeles Wealth Management LLC grew its stake in The Goldman Sachs Group by 41.1% during the 2nd quarter. Angeles Wealth Management LLC now owns 868 shares of the investment management company’s stock valued at $614,000 after acquiring an additional 253 shares in the last quarter. Finally, Applied Finance Capital Management LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter valued at about $2,421,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GS shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Citigroup increased their price target on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research note on Thursday. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $770.73.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $750.71 on Friday. The firm’s 50 day moving average price is $765.25 and its 200-day moving average price is $669.67. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The firm has a market cap of $227.25 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.40 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the business posted $8.40 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is 32.50%.

About The Goldman Sachs Group

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.