Pinnacle Wealth Management Advisory Group LLC Increases Position in The Goldman Sachs Group, Inc. $GS

Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,215 shares of the investment management company’s stock after purchasing an additional 281 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in The Goldman Sachs Group were worth $2,275,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after buying an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after acquiring an additional 58 shares in the last quarter. Brown Advisory Inc. grew its holdings in The Goldman Sachs Group by 1.8% in the first quarter. Brown Advisory Inc. now owns 12,792 shares of the investment management company’s stock worth $6,988,000 after purchasing an additional 224 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in The Goldman Sachs Group by 13.1% in the first quarter. Linden Thomas Advisory Services LLC now owns 620 shares of the investment management company’s stock worth $339,000 after purchasing an additional 72 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in shares of The Goldman Sachs Group by 35.7% during the first quarter. Alps Advisors Inc. now owns 1,049 shares of the investment management company’s stock worth $573,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on GS shares. Deutsche Bank Aktiengesellschaft boosted their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a report on Friday, October 17th. Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. Finally, Daiwa Capital Markets boosted their target price on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $779.50.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $786.03 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The business’s 50 day moving average price is $778.04 and its 200 day moving average price is $701.30. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The firm has a market cap of $235.75 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The company had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The Goldman Sachs Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $8.40 EPS. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is currently 32.50%.

Insider Buying and Selling

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company’s stock.

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.