Cornerstone Wealth Management LLC Has $405,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Cornerstone Wealth Management LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 817 shares of the investment management company’s stock after selling 33 shares during the period. Cornerstone Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $405,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rheos Capital Works Inc. raised its position in The Goldman Sachs Group by 265.4% in the third quarter. Rheos Capital Works Inc. now owns 248,500 shares of the investment management company’s stock worth $123,035,000 after purchasing an additional 180,500 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its position in The Goldman Sachs Group by 18.7% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 10,707 shares of the investment management company’s stock worth $5,301,000 after purchasing an additional 1,684 shares in the last quarter. Transform Wealth LLC raised its position in The Goldman Sachs Group by 1.3% in the third quarter. Transform Wealth LLC now owns 31,065 shares of the investment management company’s stock worth $15,381,000 after purchasing an additional 399 shares in the last quarter. Sumitomo Life Insurance Co. grew its stake in The Goldman Sachs Group by 2.4% during the third quarter. Sumitomo Life Insurance Co. now owns 3,643 shares of the investment management company’s stock worth $1,804,000 after buying an additional 84 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its stake in The Goldman Sachs Group by 3.6% during the third quarter. SeaCrest Wealth Management LLC now owns 1,894 shares of the investment management company’s stock worth $938,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Down 0.1 %

Shares of NYSE GS opened at $528.36 on Friday. The company’s 50 day simple moving average is $498.15 and its 200 day simple moving average is $469.05. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $170.38 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $540.51.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $5.47 earnings per share. On average, analysts predict that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup upped their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group increased their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.69.

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.