Avestar Capital LLC Has $903,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Avestar Capital LLC grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,824 shares of the investment management company’s stock after buying an additional 148 shares during the quarter. Avestar Capital LLC’s holdings in The Goldman Sachs Group were worth $903,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Procyon Advisors LLC boosted its holdings in The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management lifted its position in shares of The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares during the period. Granite Bay Wealth Management LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at $5,529,000. Wedge Capital Management L L P NC grew its position in The Goldman Sachs Group by 3.1% in the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock valued at $45,286,000 after acquiring an additional 2,993 shares during the period. Finally, PGGM Investments raised its stake in The Goldman Sachs Group by 341.8% during the first quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock worth $4,815,000 after acquiring an additional 8,918 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $605.22 on Wednesday. The company has a market capitalization of $189.98 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $611.30. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day moving average price is $534.27 and its two-hundred day moving average price is $496.57.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.47 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.98%. The Goldman Sachs Group’s payout ratio is presently 35.21%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GS. Barclays upped their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. HSBC cut 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 report on Tuesday. Finally, Bank of America increased their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $550.63.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group 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.