Solidarity Wealth LLC Has $7.69 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Solidarity Wealth LLC has reduced its holdings in The Goldman Sachs Group by 3.2% to 14,072 shares, worth approximately $7.69 million, making it the firm's 18th largest investment.
• Goldman Sachs reported an earnings per share of $10.91, surpassing estimates of $9.82, with revenue of $14.58 billion for the quarter.
• The company increased its quarterly dividend from $3.00 to $4.00, leading to an annualized dividend yield of 2.20%.

Solidarity Wealth LLC cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,072 shares of the investment management company's stock after selling 463 shares during the quarter. The Goldman Sachs Group comprises 1.9% of Solidarity Wealth LLC's portfolio, making the stock its 18th biggest position. Solidarity Wealth LLC's holdings in The Goldman Sachs Group were worth $7,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wynn Capital LLC raised its position in The Goldman Sachs Group by 0.3% in the first 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 in the last quarter. 1900 Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares in the last quarter. World Equity Group Inc. lifted its position 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 buying an additional 20 shares during the period. Register Financial Advisors LLC boosted its stake in The Goldman Sachs Group by 2.5% in the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after buying an additional 20 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in The Goldman Sachs Group by 6.7% in the first quarter. Continuum Advisory LLC now owns 318 shares of the investment management company's stock valued at $174,000 after acquiring an additional 20 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on GS. Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. 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. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. decreased their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Finally, HSBC reiterated a "reduce" rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Stock Down 0.5%

Shares of GS stock traded down $3.88 on Thursday, hitting $726.87. 1,257,022 shares of the stock were exchanged, compared to its average volume of 2,615,635. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $223.03 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $737.88. The business has a 50-day moving average of $665.10 and a 200 day moving average of $608.80.

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, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 EPS. The business's revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.20%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the 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 completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, 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 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.