Novak & Powell Financial Services Inc. Invests $216,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Novak & Powell Financial Services Inc. bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 377 shares of the investment management company’s stock, valued at approximately $216,000.

A number of other large investors also recently modified their holdings of the company. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $30,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Finally, Whipplewood Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $606.18 on Wednesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $544.27 and its 200 day moving average is $580.66. The firm has a market capitalization of $186.00 billion, a PE ratio of 14.95, a PEG ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same quarter in the prior year, the firm posted $11.58 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.85%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess purchased 3,904 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director now owns 3,904 shares in the company, valued at $1,997,598.72. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JMP Securities lowered their target price on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. Barclays reduced their price target on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Evercore ISI dropped their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Morgan Stanley set a $558.00 price objective on The Goldman Sachs Group and gave the company an “equal weight” rating in a research report on Monday, April 7th. Finally, UBS Group boosted their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $593.40.

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.