Tower View Wealth Management LLC Sells 8,208 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Tower View Wealth Management LLC drastically reduced its holdings in The Goldman Sachs Group, selling 8,208 shares and leaving it with only 89 shares, which are valued at approximately $63,000.
• The Goldman Sachs Group reported strong earnings, with $10.91 EPS for the quarter, exceeding analysts' consensus estimates of $9.82 and a revenue of $14.58 billion compared to expectations of $13.53 billion.
• The company increased its quarterly dividend from $3.00 to $4.00, reflecting a positive change with an annualized yield of 2.1% and a payout ratio of 35.26%.

Tower View Wealth Management LLC decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 98.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89 shares of the investment management company's stock after selling 8,208 shares during the quarter. Tower View Wealth Management LLC's holdings in The Goldman Sachs Group were worth $63,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the 1st quarter valued at $25,000. Dogwood Wealth Management LLC raised its position in 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 purchasing an additional 36 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. raised its position in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after acquiring an additional 23 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 0.8%

NYSE GS opened at $779.53 on Friday. The stock has a 50-day simple moving average of $753.82 and a 200 day simple moving average of $653.41. The company has a market capitalization of $235.98 billion, a PE ratio of 17.18, a P/E/G ratio of 1.63 and a beta of 1.42. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the previous year, the firm earned $8.62 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Research analysts forecast 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 was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group's payout ratio is presently 35.26%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GS. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JMP Securities restated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft boosted their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, Evercore ISI boosted their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an "outperform" rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $709.13.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the business'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 directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last three months. 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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