Bedell Frazier Investment Counselling LLC Buys New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

Bedell Frazier Investment Counselling LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,517 shares of the investment management company’s stock, valued at approximately $1,246,000.

Other institutional investors also recently bought and sold shares of the company. Waddell & Associates LLC grew its holdings in The Goldman Sachs Group by 2.1% during the 3rd quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock valued at $444,000 after buying an additional 18 shares during the last quarter. Wescott Financial Advisory Group LLC grew its holdings in The Goldman Sachs Group by 0.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock valued at $1,346,000 after buying an additional 18 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in shares of The Goldman Sachs Group by 0.8% during the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after purchasing an additional 20 shares during the last quarter. First Pacific Financial boosted its holdings in shares of The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after purchasing an additional 20 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 1.7% during the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock worth $583,000 after purchasing an additional 20 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GS. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI raised their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer raised their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Citigroup raised their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $542.00.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is currently owned by insiders.

The Goldman Sachs Group Trading Up 1.1 %

NYSE:GS opened at $602.78 on Monday. The business’s 50-day moving average is $529.52 and its two-hundred day moving average is $494.47. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12 month low of $334.87 and a 12 month high of $607.15. The firm has a market capitalization of $189.22 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results 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 Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

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.