Parkworth Wealth Management Inc. Acquires Shares of 86 The Goldman Sachs Group, Inc. (NYSE:GS)

Parkworth Wealth Management Inc. acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 86 shares of the investment management company’s stock, valued at approximately $49,000.

Several other hedge funds also recently bought and sold shares of GS. Jackson Grant Investment Advisers Inc. raised its position in The Goldman Sachs Group by 10.9% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 16 shares during the period. Ledyard National Bank grew its stake in shares of The Goldman Sachs Group by 3.4% in the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after buying an additional 16 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 2.5% in the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock valued at $378,000 after buying an additional 16 shares in the last quarter. Pointe Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock valued at $951,000 after buying an additional 16 shares in the last quarter. Finally, Genesee Capital Advisors LLC grew its stake in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock valued at $1,024,000 after buying an additional 17 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Morgan Stanley lifted their price objective on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of The Goldman Sachs Group in a research note on Friday, February 28th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.69.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $531.59 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The business’s 50 day moving average is $615.30 and its two-hundred day moving average is $566.64. The Goldman Sachs Group, Inc. has a 12-month low of $383.41 and a 12-month high of $672.19. The stock has a market capitalization of $165.88 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same quarter in the previous year, the firm posted $5.48 EPS. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 represents a 23.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the sale, the insider now owns 9,589 shares in the company, valued at approximately $6,086,042.41. This trade represents a 43.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,925 shares of company stock worth $12,630,683 in the last quarter. Company insiders own 0.54% of the company’s stock.

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.