Audent Global Asset Management LLC Sells 1,984 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Audent Global Asset Management LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 43.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,590 shares of the investment management company’s stock after selling 1,984 shares during the period. The Goldman Sachs Group comprises 2.2% of Audent Global Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Audent Global Asset Management LLC’s holdings in The Goldman Sachs Group were worth $1,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at about $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at about $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its position in shares of The Goldman Sachs Group by 103.3% in the second 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, West Branch Capital LLC bought a new position in shares of The Goldman Sachs Group in the third quarter worth approximately $30,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $608.57 on Monday. The firm has a market cap of $191.04 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $340.09 and a fifty-two week high of $612.73. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The business has a 50 day moving average price of $540.94 and a 200-day moving average price of $499.68.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.47 earnings per share. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GS shares. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Hsbc Global Res cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average price target of $550.63.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 over the last quarter. 0.54% of the stock is owned by company insiders.

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.