David M. Solomon Sells 3,497 Shares of Goldman Sachs (GS) Stock
Goldman Sachs (NYSE:GS) insider David M. Solomon sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $244.40, for a total transaction of $854,666.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Goldman Sachs opened at $239.10 on Friday, Marketbeat Ratings reports. Goldman Sachs has a 12-month low of $240.61 and a 12-month high of $241.76. The company has a market cap of $91.01 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.83 and a beta of 1.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.12.
Goldman Sachs (NYSE:GS) last posted its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.58 by $1.37. The business had revenue of $10.04 billion for the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs had a net margin of 14.27% and a return on equity of 12.58%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $5.15 EPS. equities analysts expect that Goldman Sachs will post 23.27 earnings per share for the current fiscal year.
GS has been the topic of a number of research reports. BMO Capital Markets decreased their price target on shares of Goldman Sachs to $221.00 and set a “market perform” rating on the stock in a research note on Thursday, January 18th. Royal Bank of Canada upped their price target on shares of Goldman Sachs to $265.00 and gave the company a “sector perform” rating in a research note on Thursday, January 18th. Oppenheimer upped their price target on shares of Goldman Sachs from $301.00 to $313.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Barclays reiterated an “equal weight” rating and issued a $289.00 price target (down previously from $308.00) on shares of Goldman Sachs in a research note on Thursday, January 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $260.00 price target on shares of Goldman Sachs in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $266.78.
Several hedge funds and other institutional investors have recently bought and sold shares of GS. TIAA CREF Investment Management LLC boosted its position in shares of Goldman Sachs by 116.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 2,529,469 shares of the investment management company’s stock worth $644,408,000 after acquiring an additional 1,360,046 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Goldman Sachs by 15.1% during the 4th quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock worth $1,410,965,000 after acquiring an additional 727,698 shares in the last quarter. Millennium Management LLC boosted its position in shares of Goldman Sachs by 100.6% during the 1st quarter. Millennium Management LLC now owns 999,532 shares of the investment management company’s stock worth $251,742,000 after acquiring an additional 501,354 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of Goldman Sachs by 187.6% during the 4th quarter. Standard Life Aberdeen plc now owns 737,276 shares of the investment management company’s stock worth $187,995,000 after acquiring an additional 480,931 shares in the last quarter. Finally, PointState Capital LP acquired a new stake in shares of Goldman Sachs during the 1st quarter worth approximately $109,184,000. Institutional investors and hedge funds own 73.48% of the company’s stock.
About Goldman Sachs
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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