Tower View Wealth Management LLC Has $3.40 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Tower View Wealth Management LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7,521.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,945 shares of the investment management company’s stock after purchasing an additional 5,867 shares during the period. The Goldman Sachs Group comprises 1.8% of Tower View Wealth Management LLC’s holdings, making the stock its 25th largest position. Tower View Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $3,404,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Sherman Asset Management Inc. acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $125,000. Prudent Man Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $230,000. Flaharty Asset Management LLC raised its holdings in The Goldman Sachs Group by 502.9% in the 4th quarter. Flaharty Asset Management LLC now owns 422 shares of the investment management company’s stock valued at $242,000 after acquiring an additional 352 shares during the period. Metis Global Partners LLC raised its holdings in The Goldman Sachs Group by 1.7% in the 4th quarter. Metis Global Partners LLC now owns 12,599 shares of the investment management company’s stock valued at $7,214,000 after acquiring an additional 215 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in The Goldman Sachs Group by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock valued at $3,524,669,000 after acquiring an additional 112,696 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total value of $1,275,338.34. Following the sale, the chief accounting officer now owns 6,455 shares in the company, valued at $4,047,349.55. This trade represents a 23.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the sale, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock valued at $12,630,683 over the last three months. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $622.11 on Friday. The company’s 50 day simple moving average is $616.74 and its 200 day simple moving average is $562.96. The stock has a market capitalization of $194.12 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1 year low of $381.42 and a 1 year high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm posted $5.48 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 1.93%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Analysts Set New Price Targets

GS has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup increased their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of The Goldman Sachs Group in a report on Friday. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $591.69.

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.