AdvisorNet Financial Inc Reduces Holdings 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 2nd quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GS. Fulton Bank N.A. increased its holdings in The Goldman Sachs Group by 0.8% in the second quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock worth $1,233,000 after buying an additional 22 shares during the last quarter. Jacobi Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 1.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after acquiring an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of The Goldman Sachs Group by 1.3% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock valued at $779,000 after acquiring an additional 24 shares in the last quarter. Powell Investment Advisors LLC grew its holdings in The Goldman Sachs Group by 0.7% during the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock valued at $1,603,000 after purchasing an additional 25 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock worth $944,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction 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 transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Insiders have sold a total of 4,013,500 shares of company stock valued at $32,181,365 in the last 90 days. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Trading Up 0.1 %

GS stock traded up $0.48 during trading on Thursday, hitting $499.18. The company had a trading volume of 854,967 shares, compared to its average volume of 2,330,561. The stock has a market cap of $160.97 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 0.99 and a beta of 1.37. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $473.25 and a 200-day moving average price of $434.43. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26.

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

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. 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%. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. UBS Group raised their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. BMO Capital Markets upped their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.94.

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.