The Goldman Sachs Group, Inc. $GS Shares Sold by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,305 shares of the investment management company’s stock after selling 59 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $1,632,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Winthrop Advisory Group LLC lifted its holdings in shares of The Goldman Sachs Group by 3.4% in the second 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 raised its position in shares of The Goldman Sachs Group by 31.1% during the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after purchasing an additional 14 shares during the period. KPP Advisory Services LLC raised its position 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 worth $473,000 after purchasing an additional 14 shares during the period. Dumont & Blake Investment Advisors LLC raised 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 during the period. Finally, Mechanics Financial Corp raised its position in shares of The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In related news, COO John E. Waldron sold 9,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $750.00 target price (up from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. HSBC upped their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Royal Bank Of Canada reissued a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Wells Fargo & Company upped their price target 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. Finally, UBS Group upped their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $779.50.

The Goldman Sachs Group Stock Performance

GS opened at $784.09 on Friday. The company has a market cap of $237.36 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The stock has a 50-day moving average of $767.57 and a 200-day moving average of $680.36. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last released its quarterly 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 company had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.40 EPS. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

About The Goldman Sachs Group

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.