Corrado Advisors LLC Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Corrado Advisors LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.8% during the 2nd quarter, Holdings Channel reports. The fund owned 2,738 shares of the investment management company’s stock after selling 49 shares during the period. Corrado Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dogwood Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at $25,000. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at $29,000. Ridgewood Investments LLC lifted its position in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after buying an additional 17 shares during the period. Finally, Avion Wealth lifted its position in The Goldman Sachs Group by 31.1% during the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after buying an additional 14 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $792.69 on Wednesday. The firm has a market capitalization of $239.96 billion, a PE ratio of 16.10, a P/E/G ratio of 1.45 and a beta of 1.42. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The business has a 50-day moving average of $770.18 and a two-hundred day moving average of $685.52. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping the consensus estimate of $10.27 by $1.98. The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $8.40 earnings per share. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value 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 trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Morgan Stanley reduced their target price on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. HSBC increased their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, UBS Group increased their target price on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $779.50.

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.