Lucia Wealth Services LLC lifted its position in Goldman Sachs Group Inc (NYSE:GS) by 51.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,728 shares of the investment management company’s stock after purchasing an additional 4,991 shares during the quarter. Lucia Wealth Services LLC’s holdings in Goldman Sachs Group were worth $3,709,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Spinnaker Trust grew its holdings in shares of Goldman Sachs Group by 753.5% in the first quarter. Spinnaker Trust now owns 12,231 shares of the investment management company’s stock valued at $3,079,000 after purchasing an additional 10,798 shares during the period. Toronto Dominion Bank grew its holdings in shares of Goldman Sachs Group by 25.2% in the first quarter. Toronto Dominion Bank now owns 192,050 shares of the investment management company’s stock valued at $48,358,000 after purchasing an additional 38,706 shares during the period. Fayez Sarofim & Co grew its holdings in shares of Goldman Sachs Group by 24.4% in the first quarter. Fayez Sarofim & Co now owns 1,502 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 295 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Goldman Sachs Group by 5.2% in the first quarter. Artisan Partners Limited Partnership now owns 231,638 shares of the investment management company’s stock valued at $58,340,000 after purchasing an additional 11,468 shares during the period. Finally, Schnieders Capital Management LLC purchased a new stake in shares of Goldman Sachs Group in the first quarter valued at about $620,000. 72.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on GS. Morgan Stanley upped their price objective on shares of Goldman Sachs Group from $294.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. reissued a “buy” rating and issued a $280.00 price objective on shares of Goldman Sachs Group in a report on Thursday, March 15th. Wells Fargo & Co reissued an “outperform” rating and issued a $320.00 price objective on shares of Goldman Sachs Group in a report on Thursday, January 25th. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $294.00 price objective for the company in a report on Tuesday, March 20th. Finally, Vetr lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $246.36 price objective for the company. in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $266.78.
Shares of GS opened at $237.81 on Thursday. The stock has a market cap of $89.90 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38. Goldman Sachs Group Inc has a 1 year low of $209.62 and a 1 year high of $275.31. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.92 and a current ratio of 0.92.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.58 by $1.37. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $8.73 billion. Goldman Sachs Group had a net margin of 14.27% and a return on equity of 12.58%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 earnings per share. analysts predict that Goldman Sachs Group Inc will post 23.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, May 30th. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.75. Goldman Sachs Group’s dividend payout ratio is currently 15.18%.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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