Cypress Asset Management Inc. TX Raises Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Cypress Asset Management Inc. TX grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,836 shares of the investment management company’s stock after buying an additional 40 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in The Goldman Sachs Group were worth $2,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC grew its stake in The Goldman Sachs Group by 1.5% in the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in The Goldman Sachs Group by 1.3% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock worth $779,000 after purchasing an additional 24 shares in the last quarter. Powell Investment Advisors LLC grew its stake in The Goldman Sachs Group by 0.7% in the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after purchasing an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its stake in The Goldman Sachs Group by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock worth $944,000 after purchasing an additional 25 shares in the last quarter. Finally, Optas LLC grew its stake in The Goldman Sachs Group by 2.4% in the first quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock worth $448,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,013,500 shares of company stock worth $32,181,365. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded down $29.48 during trading on Friday, reaching $470.64. 6,115,462 shares of the company traded hands, compared to its average volume of 2,606,533. The firm’s fifty day simple moving average is $469.30 and its 200 day simple moving average is $428.42. The stock has a market cap of $151.76 billion, a P/E ratio of 18.38, a PEG ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Wall Street Analyst Weigh In

GS has been the topic of several research analyst reports. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective on the stock in a research note on Tuesday, April 16th. Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday. Morgan Stanley increased their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Barclays increased their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $495.94.

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.