6,272 Shares in The Goldman Sachs Group, Inc. $GS Bought by Momentum Wealth Planning LLC

Momentum Wealth Planning LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 6,272 shares of the investment management company’s stock, valued at approximately $4,439,000. The Goldman Sachs Group comprises about 3.8% of Momentum Wealth Planning LLC’s portfolio, making the stock its 7th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC lifted its stake in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares in the last quarter. Clearstead Trust LLC purchased a new position in The Goldman Sachs Group during the second quarter worth $31,000. Graney & King LLC raised its holdings in shares of The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Ridgewood Investments LLC lifted its position in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 17 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at $39,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 2.5%

GS opened at $887.90 on Monday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $919.10. The firm has a 50 day moving average price of $800.00 and a 200 day moving average price of $745.07. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $266.31 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The firm had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the company earned $8.40 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 1.8%. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Analyst Ratings Changes

A number of brokerages have recently commented on GS. UBS Group lifted their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. BNP Paribas Exane lifted their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Barclays boosted their price target on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. BMO Capital Markets initiated coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a “market perform” rating and a $785.00 price objective on the stock. Finally, Rothschild & Co Redburn lifted their price objective on The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $787.06.

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.