Frank Rimerman Advisors LLC Boosts Stake in The Goldman Sachs Group, Inc. $GS

Frank Rimerman Advisors LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,450 shares of the investment management company’s stock after buying an additional 198 shares during the period. Frank Rimerman Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Westover Capital Advisors LLC grew its stake in shares of The Goldman Sachs Group by 0.6% in the second quarter. Westover Capital Advisors LLC now owns 11,907 shares of the investment management company’s stock worth $8,427,000 after acquiring an additional 72 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in The Goldman Sachs Group by 2.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,158 shares of the investment management company’s stock worth $2,235,000 after purchasing an additional 81 shares in the last quarter. Bulltick Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter worth about $366,000. Nomura Asset Management Co. Ltd. increased its holdings in The Goldman Sachs Group by 0.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 141,581 shares of the investment management company’s stock worth $100,204,000 after purchasing an additional 1,036 shares during the period. Finally, Midwest Professional Planners LTD. raised its position in The Goldman Sachs Group by 3.1% in the 2nd quarter. Midwest Professional Planners LTD. now owns 5,738 shares of the investment management company’s stock valued at $4,061,000 after purchasing an additional 174 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. Evercore ISI boosted their target price on shares of 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. Barclays upped their price objective on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating and issued a $843.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $786.00.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $777.11 on Wednesday. The company’s 50 day simple moving average is $786.05 and its 200-day simple moving average is $714.77. The firm has a market cap of $233.08 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $841.28. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The firm 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 quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.40 EPS. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.