Advisory Services Network LLC Has $9.57 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Advisory Services Network LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,229 shares of the investment management company’s stock after acquiring an additional 961 shares during the quarter. Advisory Services Network LLC’s holdings in The Goldman Sachs Group were worth $9,572,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GS. Dogwood Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Clearstead Trust LLC bought a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $31,000. Graney & King LLC increased its stake in The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after buying an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new position in The Goldman Sachs Group in the second quarter valued at approximately $39,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $887.90 on Monday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $919.10. The company’s 50 day moving average price is $800.00 and its two-hundred day moving average price is $745.07. The firm has a market cap of $266.31 billion, a PE ratio of 18.04, a PEG ratio of 1.17 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.53.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The firm had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the previous year, the company posted $8.40 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 32.50%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $750.00 price objective (up from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. Wells Fargo & Company lifted their target price on 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. Barclays upped their price target 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. Morgan Stanley lowered their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada increased their target price on shares of The Goldman Sachs Group from $843.00 to $900.00 and gave the stock a “sector perform” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $787.06.

The Goldman Sachs Group Company 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.