TruWealth Advisors LLC Buys New Position in The Goldman Sachs Group, Inc. $GS

TruWealth Advisors LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 27,000 shares of the investment management company’s stock, valued at approximately $21,502,000.

Several other institutional investors and hedge funds have also modified their holdings of GS. Dogwood Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the period. Clearstead Trust LLC purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at about $31,000. Graney & King LLC increased its stake in The Goldman Sachs Group by 51.5% during the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Ridgewood Investments LLC raised its holdings in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

GS has been the topic of several research reports. Rothschild & Co Redburn raised their price target on shares of The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Goldman Sachs Group in a research report on Monday, December 1st. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Morgan Stanley lowered their target price on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a report on Wednesday, October 15th. Finally, BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $787.06.

The Goldman Sachs Group Stock Performance

GS stock opened at $890.48 on Tuesday. The company has a 50-day simple moving average of $801.88 and a 200 day simple moving average of $747.08. The company has a market capitalization of $267.08 billion, a P/E ratio of 18.09, a PEG ratio of 1.17 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.53. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $919.10.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The company had revenue of $15.18 billion for the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The Goldman Sachs Group’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $8.40 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 32.50%.

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.