470 Shares in The Goldman Sachs Group, Inc. (NYSE:GS) Acquired by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 470 shares of the investment management company’s stock, valued at approximately $233,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Copley Financial Group Inc. acquired a new stake in The Goldman Sachs Group during the third quarter worth approximately $635,000. Oddo BHF Asset Management Sas bought a new position in The Goldman Sachs Group during the third quarter worth $2,161,000. Franklin Resources Inc. grew its holdings in The Goldman Sachs Group by 3.9% in the third quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock worth $898,428,000 after purchasing an additional 62,246 shares during the period. Synovus Financial Corp increased its stake in The Goldman Sachs Group by 4.7% in the third quarter. Synovus Financial Corp now owns 15,998 shares of the investment management company’s stock valued at $7,920,000 after purchasing an additional 724 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in The Goldman Sachs Group by 6.3% in the third quarter. Tidal Investments LLC now owns 11,691 shares of the investment management company’s stock valued at $5,788,000 after purchasing an additional 688 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group raised their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $559.75.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the transaction, the director now directly owns 608,425 shares in the company, valued at $372,404,774. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares of the company’s stock, valued at approximately $72,015,903.53. The trade was a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,940 shares of company stock valued at $13,717,979 over the last 90 days. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $585.41 on Friday. The stock’s 50-day simple moving average is $561.07 and its two-hundred day simple moving average is $508.29. The Goldman Sachs Group, Inc. has a twelve month low of $365.00 and a twelve month high of $612.73. The firm has a market capitalization of $183.77 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.86 and a beta of 1.38. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted 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 11.39%. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the business earned $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

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.