Goldman Sachs and Apple plan to offer a new credit card

May 13, 2018, 14:25
Goldman Sachs and Apple plan to offer a new credit card

Goldman Sachs is popularly known for being the biggest bank of the Wall Street investment and has lately been looking at consumer lending as a new option for expansion. During the same period past year, the business earned $5.15 earnings per share. Finally, Oppenheimer raised their target price on Goldman Sachs from $280.00 to $308.00 and gave the company an "outperform" rating in a report on Wednesday, April 18th.

Goldman Sachs (NYSE:GS) last released its earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share for the quarter, topping analysts' consensus estimates of $5.58 by $1.37.

This table compares Goldman Sachs and its peers' net margins, return on equity and return on assets. The company had revenue of $35.54 million for the quarter, compared to the consensus estimate of $36.19 million. Goldman Sachs's revenue was up 25.0% on a year-over-year basis. research analysts anticipate that Goldman Sachs will post 23.27 earnings per share for the current year. The company's revenue for the quarter was up 10.4% compared to the same quarter a year ago.

Apple and Goldman Sachs are reportedly working together to develop a new credit card product, which could be introduced as early as next year. National Securities reissued a neutral rating and issued a $22.00 target price on shares of Goldman Sachs BDC in a report on Monday, February 26th. ValuEngine upgraded Goldman Sachs BDC from a sell rating to a hold rating in a research report on Tuesday. Finally, Bedel Financial Consulting Inc. bought a new stake in shares of Goldman Sachs in the first quarter worth about $161,000. Fmr Limited Company has invested 0.19% in The Goldman Sachs Group, Inc. About 1.54 million shares traded. Alexandria Capital Llc who had been investing in Goldman Sachs Group Inc Com for a number of months, seems to be less bullish one the $91.75B market cap company. Goldman Sachs has a 12 month low of $241.71 and a 12 month high of $244.83. Goldman Sachs is trading at a lower price-to-earnings ratio than its peers, indicating that it is now more affordable than other companies in its industry. Stockholders of record on Friday, June 29th will be given a $0.45 dividend. Alexandria Llc has invested 1.11% in The Goldman Sachs Group, Inc. Also, EVP John F.W. Rogers sold 4,400 shares of the business's stock in a transaction that occurred on Friday, February 23rd. Comparatively, Goldman Sachs' peers have a beta of 8.84, suggesting that their average stock price is 784% more volatile than the S&P 500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

In related news, insider Brian J. Lee sold 6,738 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. Stout Jay S sold $7,524 worth of stock or 4,854 shares. The disclosure for this sale can be found here.

Several equities research analysts recently commented on the company. SeaCrest Wealth Management LLC purchased a new position in shares of Goldman Sachs BDC in the fourth quarter valued at $104,000. Sterling Investment Advisors Ltd. now owns 84,600 shares of the financial services provider's stock valued at $1,876,000 after buying an additional 4,350 shares during the last quarter. Murphy Management holds 0.25% of its portfolio in The Goldman Sachs Group, Inc. Texas Yale Capital Corp. raised its position in shares of Goldman Sachs BDC by 2.7% in the first quarter. Boston Advsrs Ltd Company accumulated 0.01% or 2,691 shares. Windsor Capital Management LLC increased its stake in Goldman Sachs by 81.2% during the 1st quarter. Can purchased a new stake in Goldman Sachs BDC during the 1st quarter worth about $204,000. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.

Goldman Sachs BDC, Inc is a closed-end management investment company.

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