Blue Chip Wealth Management Inc. trimmed its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,872 shares of the investment management company’s stock after selling 73 shares during the quarter. Blue Chip Wealth Management Inc.’s holdings in Goldman Sachs Group were worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of GS. Next Capital Management LLC bought a new position in Goldman Sachs Group during the 2nd quarter worth approximately $28,000. Advantage Investment Management LLC bought a new stake in shares of Goldman Sachs Group in the 3rd quarter worth approximately $29,000. Motco grew its position in shares of Goldman Sachs Group by 146.7% in the 2nd quarter. Motco now owns 148 shares of the investment management company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Tortoise Investment Management LLC grew its position in shares of Goldman Sachs Group by 1,153.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 163 shares of the investment management company’s stock worth $33,000 after buying an additional 150 shares during the last quarter. Finally, Pathstone Family Office LLC grew its position in shares of Goldman Sachs Group by 2,900.0% in the 2nd quarter. Pathstone Family Office LLC now owns 180 shares of the investment management company’s stock worth $37,000 after buying an additional 174 shares during the last quarter. Institutional investors and hedge funds own 68.66% of the company’s stock.
GS has been the topic of a number of recent analyst reports. Odeon Capital Group lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $225.00 to $260.00 in a research report on Friday, July 26th. Zacks Investment Research upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price objective on the stock in a research report on Tuesday, June 25th. Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a research report on Friday, June 28th. Finally, TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $240.42.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $4.79 EPS for the quarter, missing the Zacks’ consensus estimate of $5.03 by ($0.24). The firm had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Goldman Sachs Group had a net margin of 18.86% and a return on equity of 11.02%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.28 EPS. Equities analysts anticipate that Goldman Sachs Group Inc will post 21.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, November 29th. Goldman Sachs Group’s payout ratio is presently 19.79%.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
Featured Article: Why Net Income is Important to Investors
Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs Group Inc (NYSE:GS).
Receive News & Ratings for Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.