Smith Salley Wealth Management Buys 2,048 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Smith Salley Wealth Management increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 564.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,411 shares of the investment management company's stock after purchasing an additional 2,048 shares during the period. Smith Salley Wealth Management's holdings in The Goldman Sachs Group were worth $1,317,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group during the first quarter valued at approximately $1,766,238,000. Norges Bank bought a new stake in The Goldman Sachs Group during the fourth quarter worth $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $944,334,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $624,844,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Activity

In other The Goldman Sachs Group news, Director John B. Hess bought 3,904 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the transaction, the director directly owned 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Up 1.2%

GS stock traded up $8.75 during trading on Wednesday, hitting $715.21. The company had a trading volume of 2,905,766 shares, compared to its average volume of 2,393,791. The stock has a market cap of $219.46 billion, a PE ratio of 16.60, a PEG ratio of 0.96 and a beta of 1.35. The business has a 50-day moving average of $606.17 and a 200-day moving average of $588.74. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $718.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the prior year, the firm posted $11.58 EPS. Research analysts predict 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 given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GS. Royal Bank Of Canada lowered their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a report on Tuesday, April 15th. Citigroup lowered their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Daiwa America downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Daiwa Capital Markets cut shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a research report on Friday, April 4th. Finally, Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $570.00 to $592.00 and gave the company an "equal weight" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $603.73.

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.