AdvisorNet Financial Inc Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

AdvisorNet Financial Inc decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 604 shares of the investment management company’s stock after selling 25 shares during the period. AdvisorNet Financial Inc’s holdings in The Goldman Sachs Group were worth $273,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GS. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $25,000. First United Bank & Trust purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $26,000. Versant Capital Management Inc increased its holdings in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth about $29,000. Institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of several recent analyst reports. Barclays lifted their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Oppenheimer boosted their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,013,500 shares of company stock worth $32,181,365. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Performance

GS stock traded up $0.48 during midday trading on Thursday, reaching $499.18. 854,967 shares of the company’s stock traded hands, compared to its average volume of 2,330,561. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26. The stock has a market cap of $160.97 billion, a P/E ratio of 19.58, a PEG ratio of 0.99 and a beta of 1.37. The stock’s 50-day moving average is $473.25 and its 200 day moving average is $434.43.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.40%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.