Garrett Wealth Advisory Group LLC Invests $450,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Garrett Wealth Advisory Group LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 823 shares of the investment management company's stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors have also modified their holdings of GS. Prestige Wealth Management Group LLC increased its position in shares of The Goldman Sachs Group by 1.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company's stock valued at $950,000 after acquiring an additional 18 shares in the last quarter. Wynn Capital LLC grew its position in The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after purchasing an additional 20 shares during the period. 1900 Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 2.6% during the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after acquiring an additional 20 shares during the last quarter. World Equity Group Inc. boosted its stake in shares of The Goldman Sachs Group by 0.9% during the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after acquiring an additional 20 shares during the last quarter. Finally, Register Financial Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 2.5% during the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GS. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $630.00 to $715.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Wells Fargo & Company decreased their price target on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Barclays reduced their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $603.73.

Insider Buying and Selling

In related news, Director John B. Hess bought 3,904 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Down 1.8%

NYSE:GS opened at $710.58 on Tuesday. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $726.00. The firm has a 50 day moving average of $620.36 and a 200 day moving average of $593.17. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $218.03 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.99 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. During the same quarter last year, the company posted $11.58 earnings per share. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.69%. The Goldman Sachs Group's payout ratio is currently 27.85%.

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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