Parkwoods Wealth Partners LLC Makes New $229,000 Investment in The Goldman Sachs Group, Inc. $GS

Parkwoods Wealth Partners LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, HoldingsChannel reports. The fund acquired 323 shares of the investment management company’s stock, valued at approximately $229,000.

A number of other hedge funds have also added to or reduced their stakes in GS. Ridgewood Investments LLC increased its position in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the last quarter. Bank of Stockton increased its position in The Goldman Sachs Group by 0.7% during the second 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 last quarter. Western Financial Corp CA increased its position in The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock valued at $2,546,000 after acquiring an additional 17 shares during the last quarter. King Wealth Management Group increased its position in The Goldman Sachs Group by 1.8% during the first 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 last quarter. Finally, Raab & Moskowitz Asset Management LLC increased its position in The Goldman Sachs Group by 0.9% during the first 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 last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday. Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. JMP Securities reiterated a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $690.27.

The Goldman Sachs Group Trading Down 1.0%

NYSE:GS opened at $796.20 on Wednesday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. 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 firm has a market cap of $241.02 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.67 and a beta of 1.41. The firm has a 50-day simple moving average of $751.18 and a 200-day simple moving average of $650.88.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion during 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 company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $8.62 earnings per share. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a dividend of $4.00 per share. 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 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group’s payout ratio is currently 35.26%.

Insider Activity

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 of the company’s stock, valued at $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. In the last ninety days, insiders sold 38,323 shares of company stock valued at $28,111,828. 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.