Prasad Wealth Partners LLC Buys 248 Shares of The Goldman Sachs Group, Inc. $GS

Prasad Wealth Partners LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 41.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 845 shares of the investment management company’s stock after acquiring an additional 248 shares during the period. Prasad Wealth Partners LLC’s holdings in The Goldman Sachs Group were worth $598,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the first quarter worth about $25,000. Dogwood Wealth Management LLC raised its position in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after acquiring an additional 36 shares during the period. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group in the first quarter worth about $29,000. Cornerstone Planning Group LLC raised its position in The Goldman Sachs Group by 46.9% in 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 period. Finally, Ridgewood Investments LLC raised its position in shares of 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 valued at $38,000 after purchasing an additional 17 shares during the period. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction that occurred on 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 owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction 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. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GS has been the topic of several research reports. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods boosted their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. JMP Securities reissued a “market perform” rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $717.00.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $796.13 on Tuesday. 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 1-year low of $439.38 and a 1-year high of $825.25. The firm has a market capitalization of $241.00 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. The firm’s 50 day simple moving average is $756.50 and its 200 day simple moving average is $657.99.

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, topping analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the company earned $8.62 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, 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 business also recently declared 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 represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

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.