Hudson Valley Investment Advisors Inc. ADV Purchases 7,307 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Hudson Valley Investment Advisors Inc. ADV boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1,076.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,986 shares of the investment management company’s stock after acquiring an additional 7,307 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in The Goldman Sachs Group were worth $3,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. Allspring Global Investments Holdings LLC raised its holdings in The Goldman Sachs Group by 19.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 115,760 shares of the investment management company’s stock valued at $48,352,000 after buying an additional 18,859 shares during the last quarter. Norden Group LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $2,423,000. Kovack Advisors Inc. raised its holdings in The Goldman Sachs Group by 18.5% in the 1st quarter. Kovack Advisors Inc. now owns 2,790 shares of the investment management company’s stock worth $1,165,000 after purchasing an additional 435 shares in the last quarter. FORVIS Wealth Advisors LLC raised its holdings in The Goldman Sachs Group by 26.5% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,108 shares of the investment management company’s stock worth $880,000 after purchasing an additional 441 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in The Goldman Sachs Group by 42.2% in the 1st quarter. Private Advisor Group LLC now owns 26,336 shares of the investment management company’s stock worth $11,000,000 after purchasing an additional 7,822 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on GS shares. Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target 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. Finally, Barclays increased their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $524.40 on Thursday. The firm’s 50-day moving average price is $501.86 and its 200-day moving average price is $475.93. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07. The company has a market cap of $165.61 billion, a PE ratio of 15.39, a PEG ratio of 0.75 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52-week low of $300.70 and a 52-week high of $540.51.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.47 earnings per share. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 10,095 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

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.