Cypress Asset Management Inc. TX Has $2.44 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Cypress Asset Management Inc. TX raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the 1st quarter, HoldingsChannel reports. The firm owned 5,836 shares of the investment management company’s stock after buying an additional 40 shares during the period. Cypress Asset Management Inc. TX’s holdings in The Goldman Sachs Group were worth $2,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. First Personal Financial Services acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $25,000. First United Bank & Trust acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $26,000. Versant Capital Management Inc lifted its holdings in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth $33,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded down $29.48 on Friday, hitting $470.64. The company’s stock had a trading volume of 6,115,462 shares, compared to its average volume of 2,606,533. The company has a 50-day simple moving average of $469.30 and a 200 day simple moving average of $428.42. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a market capitalization of $151.76 billion, a PE ratio of 18.38, a PEG ratio of 0.99 and a beta of 1.37. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.55%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The disclosure for this sale can be found here. Insiders have sold a total of 4,013,500 shares of company stock valued at $32,181,365 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer lifted their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Bank of America lifted their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley raised their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.94.

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.