Destination Wealth Management Invests $488,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Destination Wealth Management bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 853 shares of the investment management company’s stock, valued at approximately $488,000.

A number of other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of The Goldman Sachs Group by 31.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 6,048 shares of the investment management company’s stock worth $3,463,000 after purchasing an additional 1,430 shares in the last quarter. Callan Family Office LLC lifted its position in shares of The Goldman Sachs Group by 490.3% during the fourth quarter. Callan Family Office LLC now owns 8,896 shares of the investment management company’s stock worth $5,094,000 after purchasing an additional 7,389 shares in the last quarter. Chatham Capital Group Inc. lifted its position in shares of The Goldman Sachs Group by 8.4% during the fourth quarter. Chatham Capital Group Inc. now owns 1,732 shares of the investment management company’s stock worth $992,000 after purchasing an additional 134 shares in the last quarter. Welch & Forbes LLC lifted its position in shares of The Goldman Sachs Group by 10.1% during the fourth quarter. Welch & Forbes LLC now owns 1,418 shares of the investment management company’s stock worth $812,000 after purchasing an additional 130 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its position in shares of The Goldman Sachs Group by 654.2% during the fourth quarter. E Fund Management Co. Ltd. now owns 3,424 shares of the investment management company’s stock worth $1,961,000 after purchasing an additional 2,970 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GS shares. Barclays upped their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their price target for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Oppenheimer cut their price target on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Citigroup upped their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $591.69.

The Goldman Sachs Group Stock Down 1.4 %

The Goldman Sachs Group stock opened at $559.55 on Friday. The company has a 50-day simple moving average of $616.96 and a 200-day simple moving average of $565.29. The firm has a market capitalization of $174.60 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $381.42 and a one year high of $672.19.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.48 earnings per share. As a group, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 2.14%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Transactions at The Goldman Sachs Group

In related news, Director Kevin R. Johnson bought 2,400 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $619.02 per share, for a total transaction of $1,485,648.00. Following the transaction, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $1,485,648. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,925 shares of company stock worth $12,630,683. Insiders own 0.54% of the company’s stock.

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.