Community Bank N.A. acquired a new stake in shares of Goldman Sachs Group Inc (NYSE:GS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,471 shares of the investment management company’s stock, valued at approximately $291,000.
A number of other hedge funds also recently made changes to their positions in the business. Sunbelt Securities Inc. lifted its position in shares of Goldman Sachs Group by 1.6% during the fourth quarter. Sunbelt Securities Inc. now owns 11,027 shares of the investment management company’s stock worth $2,535,000 after purchasing an additional 178 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Goldman Sachs Group by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 13,998 shares of the investment management company’s stock worth $3,219,000 after buying an additional 103 shares during the last quarter. Fulton Bank N.A. lifted its holdings in Goldman Sachs Group by 1.9% during the 1st quarter. Fulton Bank N.A. now owns 7,925 shares of the investment management company’s stock worth $1,225,000 after buying an additional 151 shares during the last quarter. Independent Investors Inc. grew its position in shares of Goldman Sachs Group by 5.0% in the 1st quarter. Independent Investors Inc. now owns 4,240 shares of the investment management company’s stock worth $655,000 after acquiring an additional 200 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in shares of Goldman Sachs Group by 6.7% in the 1st quarter. Triangle Securities Wealth Management now owns 8,735 shares of the investment management company’s stock valued at $1,350,000 after acquiring an additional 545 shares during the last quarter. 68.02% of the stock is owned by institutional investors.
Goldman Sachs Group stock traded down $1.57 during trading hours on Friday, hitting $197.96. 2,401,074 shares of the company traded hands, compared to its average volume of 3,834,824. Goldman Sachs Group Inc has a 1-year low of $130.85 and a 1-year high of $250.46. The firm has a market cap of $68.08 billion, a P/E ratio of 10.50, a P/E/G ratio of 4.57 and a beta of 1.46. The firm’s 50-day simple moving average is $202.93 and its two-hundred day simple moving average is $199.51. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 2.42.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, August 31st. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 23.78%.
Several research firms have weighed in on GS. Credit Suisse Group boosted their target price on shares of Goldman Sachs Group from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “buy” rating in a research report on Tuesday, April 14th. Berenberg Bank raised their target price on shares of Goldman Sachs Group from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Barclays upped their target price on Goldman Sachs Group from $236.00 to $253.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Bank of America increased their price target on Goldman Sachs Group from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Goldman Sachs Group currently has a consensus rating of “Buy” and an average price target of $242.57.
Goldman Sachs Group Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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