Westover Capital Advisors LLC Buys 1,070 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Westover Capital Advisors LLC increased its stake in The Goldman Sachs Group by 9.9% in the first quarter, holding a total of 11,835 shares valued at approximately $6.47 million.
• The Goldman Sachs Group announced a quarterly dividend of $4.00 per share, marking an increase from the previous dividend of $3.00, with an annualized yield of 2.22%.
• The company reported earnings of $10.91 per share for the most recent quarter, exceeding analyst expectations and reflecting a 14.5% increase in revenue compared to the same period last year.

Westover Capital Advisors LLC increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,835 shares of the investment management company's stock after buying an additional 1,070 shares during the quarter. The Goldman Sachs Group accounts for about 1.4% of Westover Capital Advisors LLC's investment portfolio, making the stock its 17th largest position. Westover Capital Advisors LLC's holdings in The Goldman Sachs Group were worth $6,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of GS. 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. Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC raised its position in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GS shares. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Barclays reduced their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded up $3.92 during mid-day trading on Tuesday, reaching $727.57. 639,476 shares of the company were exchanged, compared to its average volume of 2,620,114. The company has a fifty day simple moving average of $659.83 and a 200-day simple moving average of $607.08. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $732.52. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The firm has a market cap of $223.25 billion, a PE ratio of 16.02, a PEG ratio of 1.55 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the company earned $8.62 EPS. The company's revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. This is a positive change 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 dividend yield of 2.20%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly 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 20,079 shares of company stock valued at $14,423,221 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

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.