Cornerstone Wealth Group LLC Acquires 334 Shares of The Goldman Sachs Group, Inc. $GS

Cornerstone Wealth Group LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,550 shares of the investment management company’s stock after purchasing an additional 334 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $6,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Winthrop Advisory Group LLC raised its stake in The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after purchasing an additional 14 shares during the period. Mechanics Financial Corp raised its stake in The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 16 shares during the period. Ridgewood Investments LLC raised its stake in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares during the period. Bank of Stockton increased its stake in The Goldman Sachs Group by 0.7% in the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock worth $1,759,000 after acquiring an additional 17 shares during the last quarter. Finally, Western Financial Corp CA increased its stake in The Goldman Sachs Group by 0.5% in the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock worth $2,546,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last 90 days. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $788.52 on Tuesday. The company has a market cap of $238.70 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.44 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The business’s 50 day moving average price is $762.04 and its 200-day moving average price is $665.38. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.62 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GS. Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $790.00 to $850.00 and gave the stock a “market perform” rating in a research note on Friday. Evercore ISI lifted their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Citigroup lifted their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada lifted their price objective on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $746.69.

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.