TRUE Private Wealth Advisors Cuts Stock Holdings in The Goldman Sachs Group, Inc. $GS

TRUE Private Wealth Advisors lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,898 shares of the investment management company’s stock after selling 72 shares during the quarter. TRUE Private Wealth Advisors’ holdings in The Goldman Sachs Group were worth $4,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the first quarter worth $25,000. Dogwood Wealth Management LLC increased its holdings in shares of 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 valued at $26,000 after acquiring an additional 36 shares during the period. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter worth $31,000. Ridgewood Investments LLC lifted its stake in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at about $39,000. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GS shares. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Dbs Bank increased their price objective on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Finally, UBS Group raised their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Four investment 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’s stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $786.00.

Insider Buying and Selling

In related news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $777.11 on Wednesday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $841.28. 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 company has a market cap of $233.08 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The company’s 50 day moving average is $786.05 and its 200 day moving average is $714.77.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company posted $8.40 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

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.