The Goldman Sachs Group, Inc. $GS Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,104 shares of the investment management company’s stock after selling 101 shares during the period. Financial Advocates Investment Management’s holdings in The Goldman Sachs Group were worth $781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC grew its holdings in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Clearstead Trust LLC purchased a new position in The Goldman Sachs Group during the second quarter worth $31,000. Ridgewood Investments LLC raised its holdings in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after acquiring an additional 17 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at $39,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup lifted their price objective on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Goldman Sachs Group in a report on Tuesday. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. UBS Group raised their target price on shares of 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. Finally, Barclays lifted their target price on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $786.00.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $815.88 on Thursday. The company has a market cap of $244.70 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.43 and a beta of 1.41. The firm’s 50 day moving average is $786.85 and its two-hundred day moving average is $723.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $841.28. 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 Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $8.40 EPS. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

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.