Main Street Research LLC Boosts Position in Goldman Sachs Group, Inc. (The) (NYSE:GS)

Main Street Research LLC increased its stake in Goldman Sachs Group, Inc. (The) (NYSE:GS) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,706 shares of the investment management company’s stock after buying an additional 2,305 shares during the period. Main Street Research LLC’s holdings in Goldman Sachs Group, Inc. (The) were worth $8,811,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GS. First American Trust FSB boosted its stake in shares of Goldman Sachs Group, Inc. (The) by 13.6% in the first quarter. First American Trust FSB now owns 26,270 shares of the investment management company’s stock valued at $6,034,000 after buying an additional 3,139 shares during the period. Bridges Investment Counsel Inc. acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the first quarter valued at $275,000. Bonness Enterprises Inc. acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the first quarter valued at $988,000. Bridges Investment Management Inc. acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the first quarter valued at $2,142,000. Finally, First Financial Bank N.A. Trust Division boosted its stake in shares of Goldman Sachs Group, Inc. (The) by 10.8% in the first quarter. First Financial Bank N.A. Trust Division now owns 14,510 shares of the investment management company’s stock valued at $3,333,000 after buying an additional 1,411 shares during the period. 73.86% of the stock is owned by institutional investors and hedge funds.

Shares of Goldman Sachs Group, Inc. (NYSE GS) traded down 0.03% during mid-day trading on Wednesday, hitting $226.93. 671,538 shares of the stock traded hands. The company has a market capitalization of $91.43 billion, a PE ratio of 11.90 and a beta of 1.42. The company’s 50-day moving average price is $224.01 and its 200 day moving average price is $229.94. Goldman Sachs Group, Inc. has a 1-year low of $156.18 and a 1-year high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a return on equity of 11.25% and a net margin of 26.44%. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same quarter in the previous year, the firm earned $3.72 EPS. Goldman Sachs Group, Inc. (The)’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Goldman Sachs Group, Inc. will post $18.21 EPS for the current fiscal year.

Goldman Sachs Group, Inc. (The) declared that its Board of Directors has authorized a share buyback program on Tuesday, April 18th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio (DPR) is 15.74%.

Several brokerages have weighed in on GS. BidaskClub cut shares of Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Buckingham Research restated a “neutral” rating and issued a $243.00 target price (up from $235.00) on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, July 10th. Berenberg Bank restated a “sell” rating and issued a $190.00 target price on shares of Goldman Sachs Group, Inc. (The) in a research report on Friday, July 21st. Credit Suisse Group boosted their target price on shares of Goldman Sachs Group, Inc. (The) from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Finally, Vetr upgraded shares of Goldman Sachs Group, Inc. (The) from a “strong sell” rating to a “sell” rating and set a $189.07 target price for the company in a research report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $235.25.

About Goldman Sachs Group, Inc. (The)

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.