Pinnacle Wealth Planning Services Inc. Has $1.13 Million Position in The Goldman Sachs Group, Inc. $GS

Pinnacle Wealth Planning Services Inc. raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,590 shares of the investment management company’s stock after buying an additional 234 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in The Goldman Sachs Group were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. Winthrop Advisory Group LLC raised its position in shares of The Goldman Sachs Group by 3.4% in the second 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. Avion Wealth grew its stake in The Goldman Sachs Group by 31.1% in the 2nd quarter. Avion Wealth now owns 59 shares of the investment management company’s stock valued at $41,000 after buying an additional 14 shares during the last quarter. KPP Advisory Services LLC grew its stake in The Goldman Sachs Group by 2.1% in the 2nd quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after buying an additional 14 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in The Goldman Sachs Group by 0.7% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock valued at $1,586,000 after acquiring an additional 15 shares during the period. Finally, Mechanics Financial Corp lifted its position in The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after acquiring an additional 16 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

GS has been the topic of several research reports. Royal Bank Of Canada reaffirmed a “neutral” rating and issued a $843.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Barclays lifted their price target on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Evercore ISI upped their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Daiwa Capital Markets increased their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $786.00.

Insider Activity

In related news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS opened at $776.42 on Tuesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $841.28. The firm has a market cap of $232.87 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The business’s fifty day moving average is $785.78 and its 200-day moving average is $713.29.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping the consensus estimate of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The Goldman Sachs Group’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.40 earnings per share. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 32.50%.

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.