Solidarity Wealth LLC Has $7.69 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Solidarity Wealth LLC decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,072 shares of the investment management company’s stock after selling 463 shares during the period. The Goldman Sachs Group comprises 1.9% of Solidarity Wealth LLC’s portfolio, making the stock its 18th biggest holding. Solidarity Wealth LLC’s holdings in The Goldman Sachs Group were worth $7,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in The Goldman Sachs Group by 15.4% during the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company’s stock worth $594,412,000 after acquiring an additional 138,198 shares during the period. Clear Creek Financial Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth about $321,000. Adams Diversified Equity Fund Inc. raised its holdings in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock valued at $27,205,000 after purchasing an additional 14,600 shares during the period. Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $1,643,000. Finally, Strategic Blueprint LLC raised its holdings in The Goldman Sachs Group by 15.2% in the 1st quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company’s stock valued at $1,787,000 after acquiring an additional 432 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.3%

NYSE:GS opened at $728.63 on Monday. The company has a 50-day moving average price of $657.60 and a 200-day moving average price of $605.94. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $729.89. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The stock has a market cap of $223.57 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.55 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 13.84%. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $8.62 EPS. Equities analysts predict 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 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 dividend on an annualized basis and a dividend yield of 2.20%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 26.44%.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction 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 transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on GS shares. Barclays reduced their price target on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Finally, Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $660.00.

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.