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

Financial Advocates Investment Management lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.4% during the second quarter, HoldingsChannel reports. The firm 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 SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GS. Winthrop Advisory Group LLC raised its holdings in shares of The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after buying an additional 14 shares during the period. Avion Wealth grew its position in The Goldman Sachs Group by 31.1% in the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 14 shares in the last quarter. KPP Advisory Services LLC raised its stake in shares of The Goldman Sachs Group by 2.1% during the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after purchasing an additional 14 shares during the period. Dumont & Blake Investment Advisors LLC lifted its position in shares of The Goldman Sachs Group by 0.7% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock worth $1,586,000 after purchasing an additional 15 shares in the last quarter. Finally, WealthBridge Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 3.1% in the second quarter. WealthBridge Capital Management LLC now owns 495 shares of the investment management company’s stock valued at $350,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $815.88 on Thursday. 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 capitalization of $244.70 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $841.28. The business has a 50 day simple moving average of $786.85 and a 200-day simple moving average of $723.41.

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 firm had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.40 earnings per share. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed 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. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GS. BMO Capital Markets began coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $785.00 price target on the stock. Royal Bank Of Canada reaffirmed a “neutral” rating and set a $843.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Morgan Stanley cut their price target on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. UBS Group raised their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Four investment 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’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average price target of $786.00.

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.