Elevation Point Wealth Partners LLC Increases Stake in The Goldman Sachs Group, Inc. $GS

Elevation Point Wealth Partners LLC raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,386 shares of the investment management company’s stock after acquiring an additional 74 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in The Goldman Sachs Group were worth $3,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Dogwood Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after buying an additional 36 shares during the period. Clearstead Trust LLC bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at $31,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $25,000. Ridgewood Investments LLC boosted its holdings in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after acquiring an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the second quarter valued at $39,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.7%

Shares of The Goldman Sachs Group stock opened at $815.88 on Thursday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $841.28. The firm has a market cap of $244.70 billion, a PE ratio of 16.57, a PEG ratio of 1.43 and a beta of 1.41. The company has a 50 day simple moving average of $786.85 and a two-hundred day simple moving average of $723.41.

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, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company posted $8.40 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is 32.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GS. Citigroup increased their price objective on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. UBS Group upped their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Dbs Bank raised their price target on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $786.00.

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.