The Goldman Sachs Group, Inc. $GS Shares Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA reduced its stake in The Goldman Sachs Group by 14.4%, selling 1,930 shares and holding 11,508 shares valued at $8.15 million as of its last SEC filing.
• The Goldman Sachs Group reported $10.91 earnings per share for the last quarter, exceeding expectations and reflecting a 14.5% year-over-year revenue increase.
• The company announced a quarterly dividend increase from $3.00 to $4.00, representing a 2.0% yield and a payout ratio of 35.26%.

Banque Pictet & Cie SA lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,508 shares of the investment management company's stock after selling 1,930 shares during the quarter. Banque Pictet & Cie SA's holdings in The Goldman Sachs Group were worth $8,145,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC grew its stake in 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 period. Bank of Stockton grew its stake in The Goldman Sachs Group by 0.7% in the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock valued at $1,759,000 after acquiring an additional 17 shares during the period. King Wealth Management Group grew its stake in The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after acquiring an additional 19 shares during the period. Raab & Moskowitz Asset Management LLC grew its stake in The Goldman Sachs Group by 0.9% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock valued at $1,104,000 after acquiring an additional 19 shares during the period. Finally, Wynn Capital LLC boosted its stake in The Goldman Sachs Group by 0.3% during 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 last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 0.3%

NYSE GS opened at $794.75 on Friday. 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 quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The business's fifty day simple moving average is $745.43 and its 200-day simple moving average is $644.54. The firm has a market cap of $240.59 billion, a PE ratio of 17.51, a P/E/G ratio of 1.65 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, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $8.62 EPS. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group's payout ratio is presently 35.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GS shares. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. 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. 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. Finally, 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. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and an average price target of $665.00.

Insider Activity at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the business's 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 sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 in the last quarter. Corporate 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.

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