Patton Albertson Miller Group LLC Decreases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Patton Albertson Miller Group LLC decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,689 shares of the investment management company’s stock after selling 154 shares during the quarter. The Goldman Sachs Group comprises about 1.3% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 20th largest position. Patton Albertson Miller Group LLC’s holdings in The Goldman Sachs Group were worth $9,688,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the first quarter valued at $25,000. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the first quarter valued at $29,000. Godsey & Gibb Inc. raised its stake in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at $31,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In other news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 over the last 90 days. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JMP Securities reissued a “market perform” rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus target price of $665.00.

The Goldman Sachs Group Stock Performance

GS opened at $802.91 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $243.06 billion, a PE ratio of 17.69, a P/E/G ratio of 1.67 and a beta of 1.41. The firm has a 50 day moving average of $747.32 and a two-hundred day moving average of $647.18.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the firm posted $8.62 EPS. The Goldman Sachs Group’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

The Goldman Sachs Group Company 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.