The Goldman Sachs Group, Inc. $GS Shares Sold by Mittelman Wealth Management

Mittelman Wealth Management reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 24.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393 shares of the investment management company’s stock after selling 127 shares during the period. Mittelman Wealth Management’s holdings in The Goldman Sachs Group were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winthrop Advisory Group LLC raised its stake in shares of The Goldman Sachs Group by 3.4% in the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after acquiring an additional 14 shares in the last quarter. Avion Wealth increased its holdings in The Goldman Sachs Group by 31.1% during the 2nd quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after purchasing an additional 14 shares during the period. KPP Advisory Services LLC raised its position in The Goldman Sachs Group by 2.1% in the 2nd quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after purchasing an additional 14 shares in the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 0.7% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock valued at $1,586,000 after buying an additional 15 shares during the period. Finally, Mechanics Financial Corp grew its position in shares of The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $806.56 on Friday. The stock has a market cap of $241.91 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $841.28. The stock has a 50 day moving average of $784.04 and a two-hundred day moving average of $707.77. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period last year, the firm posted $8.40 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 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 Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is currently 32.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays raised their target price on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $779.50.

Insider Activity at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company’s stock.

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.