2,517 Shares in The Goldman Sachs Group, Inc. (NYSE:GS) Bought by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,517 shares of the investment management company's stock, valued at approximately $1,246,000.

Other institutional investors have also made changes to their positions in the company. Procyon Advisors LLC raised its holdings in shares of 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 purchasing an additional 43 shares during the period. Brookstone Capital Management grew its stake in shares of 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 bought a new position in The Goldman Sachs Group during the 2nd quarter valued at approximately $5,529,000. Wedge Capital Management L L P NC raised its holdings in 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, PGGM Investments raised its holdings in The Goldman Sachs Group by 341.8% in the first quarter. PGGM Investments now owns 11,527 shares of the investment management company's stock worth $4,815,000 after buying an additional 8,918 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an "overweight" rating in a report on Friday, November 15th. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 9th. Bank of America boosted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $542.00.

The Goldman Sachs Group Stock Performance

GS traded up $1.68 during midday trading on Monday, hitting $604.46. 1,635,421 shares of the company were exchanged, compared to its average volume of 2,217,077. The company's 50 day simple moving average is $529.52 and its 200 day simple moving average is $494.47. 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 1-year low of $334.87 and a 1-year high of $611.05. The firm has a market capitalization of $189.75 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) 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 business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the firm earned $5.47 EPS. The business's revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 1.99%. The Goldman Sachs Group's dividend payout ratio is currently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm's stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares in the company, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,390 shares of company stock worth $6,656,119. 0.57% of the stock is currently owned by corporate insiders.

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.