GC Wealth Management RIA LLC Has $2.49 Million Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• GC Wealth Management RIA LLC reduced its holdings in The Goldman Sachs Group by 39.2%, now owning 3,513 shares valued at approximately $2.49 million.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, up from the previous $3.00, representing a 2.0% dividend yield.
• Goldman Sachs reported $10.91 earnings per share (EPS) for the last quarter, exceeding expectations and demonstrating a 14.5% revenue increase year-over-year.

GC Wealth Management RIA LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 39.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,513 shares of the investment management company's stock after selling 2,268 shares during the period. GC Wealth Management RIA LLC's holdings in The Goldman Sachs Group were worth $2,486,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GS. Brighton Jones LLC lifted its holdings in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of The Goldman Sachs Group by 49.0% during the first quarter. AdvisorNet Financial Inc now owns 1,125 shares of the investment management company's stock worth $614,000 after purchasing an additional 370 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 8.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,279 shares of the investment management company's stock worth $8,893,000 after purchasing an additional 1,295 shares during the period. Finally, Allied Investment Advisors LLC raised its stake in The Goldman Sachs Group by 1.0% during the first quarter. Allied Investment Advisors LLC now owns 22,105 shares of the investment management company's stock worth $12,076,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Up 1.0%

Shares of GS stock opened at $802.91 on Monday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50-day simple moving average of $747.32 and a two-hundred day simple moving average of $648.04. The company has a market capitalization of $243.06 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.67 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm posted $8.62 EPS. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid 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 an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Analyst Ratings Changes

GS has been the subject of a number of analyst reports. HSBC reissued a "reduce" rating and set a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $665.00.

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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