Wittenberg Investment Management Inc. Sells 133 Shares of The Goldman Sachs Group, Inc. $GS

Wittenberg Investment Management Inc. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,796 shares of the investment management company’s stock after selling 133 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in The Goldman Sachs Group were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the 1st quarter valued at $25,000. Dogwood Wealth Management LLC grew its position in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the last quarter. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $31,000. Ridgewood Investments LLC raised its position in shares of 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 valued at $38,000 after buying an additional 17 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at about $39,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 1.8%

Shares of The Goldman Sachs Group stock opened at $776.42 on Tuesday. The stock has a market capitalization of $232.87 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The company has a 50-day simple moving average of $785.78 and a 200 day simple moving average of $713.29. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $841.28.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The firm had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $8.40 earnings per share. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is 32.50%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GS. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Royal Bank Of Canada restated a “neutral” rating and issued a $843.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $750.00 price objective (up previously from $625.00) on shares of The Goldman Sachs Group in a research note on Tuesday, October 21st. Finally, BNP Paribas Exane raised their price objective on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Four 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. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $786.00.

Insiders Place Their Bets

In related news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

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.