The Goldman Sachs Group, Inc. $GS Holdings Raised by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC increased its position in The Goldman Sachs Group by 4.4% in Q2, now owning 13,218 shares valued at approximately $9.36 million.
• The Goldman Sachs Group reported Q2 earnings of $10.91 per share, exceeding analysts' expectations, while revenues reached $14.58 billion, up 14.5% year-over-year.
• Insider trading revealed significant share sales, with CFO Denis P. Coleman selling 7,463 shares and COO John E. Waldron selling 9,244 shares, indicating a decrease in insider ownership.

Axxcess Wealth Management LLC grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,218 shares of the investment management company's stock after acquiring an additional 563 shares during the quarter. Axxcess Wealth Management LLC's holdings in The Goldman Sachs Group were worth $9,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $25,000. Dogwood Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its holdings in shares of The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after acquiring an additional 23 shares during the last quarter. Finally, Ridgewood Investments LLC increased its holdings in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after acquiring an additional 17 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 3.2%

Shares of GS stock opened at $788.52 on Tuesday. 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 Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The stock has a fifty day moving average of $762.04 and a two-hundred day moving average of $665.38. The firm has a market capitalization of $238.70 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results 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 return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 EPS. The firm's quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GS. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. BMO Capital Markets began coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They set a "market perform" rating and a $785.00 price objective for the company. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HSBC upped their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $790.00 to $850.00 and gave the stock a "market perform" rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus target price of $746.69.

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the sale, the chief operating officer owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

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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