485 Shares in The Goldman Sachs Group, Inc. (NYSE:GS) Purchased by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 485 shares of the investment management company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at $27,000. First Personal Financial Services purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $25,000. SJS Investment Consulting Inc. increased its holdings in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC raised its position in shares of The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after buying an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Up 0.0 %

Shares of NYSE:GS opened at $485.39 on Wednesday. The stock has a market capitalization of $156.52 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The stock’s 50-day moving average price is $490.99 and its 200-day moving average price is $452.97. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.47%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GS shares. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. BMO Capital Markets boosted their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Finally, Citigroup increased their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $496.44.

About The Goldman Sachs Group

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.