Meadowbrook Wealth Management LLC Acquires New Stake in The Goldman Sachs Group, Inc. $GS

Meadowbrook Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,882 shares of the investment management company’s stock, valued at approximately $1,499,000. The Goldman Sachs Group comprises about 1.6% of Meadowbrook Wealth Management LLC’s holdings, making the stock its 14th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Dogwood Wealth Management LLC increased its stake in shares of The Goldman Sachs Group by 1,800.0% during 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 during the period. Clearstead Trust LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $31,000. Graney & King LLC boosted its stake in shares of The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Ridgewood Investments LLC grew its holdings in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after acquiring an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new position in The Goldman Sachs Group in the second quarter worth $39,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GS shares. Morgan Stanley cut their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a report on Wednesday, October 15th. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. BMO Capital Markets started coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price target on the stock. Finally, 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 note on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $792.67.

Get Our Latest Stock Report on The Goldman Sachs Group

Key The Goldman Sachs Group News

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The Goldman Sachs Group Price Performance

NYSE:GS opened at $893.83 on Friday. The firm has a market cap of $268.09 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The company’s 50-day moving average is $810.10 and its two-hundred day moving average is $752.84. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $919.10.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The business had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the previous year, the firm posted $8.40 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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