Kovack Advisors Inc. increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 19.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,355 shares of the investment management company’s stock after buying an additional 377 shares during the period. Kovack Advisors Inc.’s holdings in The Goldman Sachs Group were worth $909,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GS. BKM Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $32,000. Cambridge Trust Co. lifted its holdings in shares of The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after acquiring an additional 41 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of The Goldman Sachs Group by 88.0% during the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $42,000. Finally, Activest Wealth Management lifted its holdings in shares of The Goldman Sachs Group by 527.3% during the 4th quarter. Activest Wealth Management now owns 138 shares of the investment management company’s stock worth $53,000 after acquiring an additional 116 shares during the last quarter. 71.21% of the stock is owned by institutional investors.
The Goldman Sachs Group Trading Up 1.8 %
Shares of NYSE GS traded up $7.52 during midday trading on Friday, hitting $427.57. 2,322,674 shares of the company traded hands, compared to its average volume of 2,404,007. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $428.53. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The stock has a 50-day moving average price of $400.27 and a 200 day moving average price of $370.11. The firm has a market cap of $138.76 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.35 and a beta of 1.43.
The Goldman Sachs Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.
Insider Buying and Selling
In related news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the transaction, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on GS. Edward Jones started coverage on shares of The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating for the company. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Bank of America lifted their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley upgraded shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $434.93.
Check Out Our Latest Research Report on GS
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.
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