Patton Albertson Miller Group LLC Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Patton Albertson Miller Group LLC lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 16.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,843 shares of the investment management company’s stock after selling 2,723 shares during the quarter. The Goldman Sachs Group comprises 1.1% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 26th biggest holding. Patton Albertson Miller Group LLC’s holdings in The Goldman Sachs Group were worth $7,562,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in The Goldman Sachs Group by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock worth $3,761,576,000 after buying an additional 161,500 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. FMR LLC grew its stake in shares of The Goldman Sachs Group by 23.7% in the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock valued at $2,053,614,000 after purchasing an additional 687,711 shares during the last quarter. Northern Trust Corp grew its stake in shares of The Goldman Sachs Group by 15.0% in the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company’s stock valued at $1,885,454,000 after purchasing an additional 428,502 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $1,766,238,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Daiwa America downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a report on Thursday, July 10th. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Finally, Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $649.29.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $706.62 on Friday. The stock has a fifty day moving average price of $644.19 and a 200 day moving average price of $599.95. The stock has a market cap of $216.82 billion, a PE ratio of 15.57, a P/E/G ratio of 0.97 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $726.00. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The Goldman Sachs Group’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $8.62 earnings per share. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s payout ratio is 27.85%.

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.