Hollencrest Capital Management Grows Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Hollencrest Capital Management raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 740 shares of the investment management company’s stock after buying an additional 109 shares during the period. Hollencrest Capital Management’s holdings in The Goldman Sachs Group were worth $404,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. increased its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after buying an additional 34 shares during the period. Transce3nd LLC purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $31,000. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC increased its stake in shares of The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GS. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday. Royal Bank Of Canada reiterated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. JPMorgan Chase & Co. decreased their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, Barclays cut their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $649.29.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $705.10 on Friday. The stock has a 50-day simple moving average of $644.19 and a two-hundred day simple moving average of $599.95. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $726.00. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12. The firm has a market capitalization of $216.35 billion, a PE ratio of 15.58, a P/E/G ratio of 0.97 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the firm posted $8.62 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.27%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s payout ratio is currently 27.85%.

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.