361 Shares in The Goldman Sachs Group, Inc. $GS Purchased by Sheets Smith Wealth Management

Key Points

• Sheets Smith Wealth Management acquired 361 shares of The Goldman Sachs Group, valued at approximately $255,000, as reported in a recent 13F filing.
• Analysts have adjusted their price targets for The Goldman Sachs Group, with Citigroup increasing it from $550.00 to $700.00 and Wells Fargo raising it from $785.00 to $855.00.
• The company recently announced an increased quarterly dividend of $4.00 per share, up from the previous $3.00, representing an annualized dividend yield of 2.0%.

Sheets Smith Wealth Management purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 361 shares of the investment management company's stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $25,000. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group in the first quarter valued at approximately $29,000. Godsey & Gibb Inc. raised its stake in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the period. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup increased their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $665.00.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $794.75 on Friday. The firm has a 50-day moving average price of $745.43 and a two-hundred day moving average price of $644.54. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The company has a market capitalization of $240.59 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.65 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $8.62 earnings per share. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Insider Buying and Selling

In related news, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

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.

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