Bard Financial Services Inc. Sells 480 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Bard Financial Services Inc. reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,215 shares of the investment management company’s stock after selling 480 shares during the period. Bard Financial Services Inc.’s holdings in The Goldman Sachs Group were worth $7,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Procyon Advisors LLC increased its holdings in The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares during the last quarter. Brookstone Capital Management increased its holdings in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth $5,529,000. Wedge Capital Management L L P NC increased its stake in shares of The Goldman Sachs Group by 3.1% in the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after purchasing an additional 2,993 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of The Goldman Sachs Group by 24.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,987 shares of the investment management company’s stock worth $6,779,000 after purchasing an additional 2,912 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays raised their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $559.75.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $588.00 on Wednesday. The firm has a 50-day moving average price of $553.26 and a 200-day moving average price of $505.37. The firm has a market capitalization of $184.58 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.86 and a beta of 1.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12-month low of $349.58 and a 12-month high of $612.73.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

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 that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,940 shares of company stock valued at $13,717,979 in the last 90 days. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group 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.