AlphaCore Capital LLC Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• AlphaCore Capital LLC has established a new position in The Goldman Sachs Group, acquiring 649 shares valued at approximately $355,000 in the first quarter.
• Equity analysts have issued a consensus rating of "Hold" for Goldman Sachs, with price targets ranging from $600 to $715 following recent upgrades and downgrades.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, reflecting a positive change from the prior dividend of $3.00.

AlphaCore Capital LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 649 shares of the investment management company's stock, valued at approximately $355,000.

A number of other large investors have also added to or reduced their stakes in the stock. American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $29,000. Godsey & Gibb Inc. boosted its stake in shares of 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 worth $30,000 after acquiring an additional 34 shares during the period. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $31,000. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 326.7% in the first 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JMP Securities reaffirmed a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley upped their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup boosted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average price target of $660.00.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,079 shares of company stock worth $14,423,221. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 0.3%

Shares of NYSE GS opened at $721.76 on Friday. The firm's 50-day moving average price is $681.52 and its 200-day moving average price is $614.22. The company has a current ratio of 0.67, a quick ratio of 0.68 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $218.49 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.53 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $737.88.

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

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.2%. 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 payout ratio is currently 26.44%.

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.

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