Sculati Wealth Management LLC Decreases Stock Position in The Goldman Sachs Group, Inc. $GS

Sculati Wealth Management LLC decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,587 shares of the investment management company’s stock after selling 223 shares during the period. The Goldman Sachs Group makes up approximately 2.0% of Sculati Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Sculati Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $5,370,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after buying an additional 36 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth $31,000. Ridgewood Investments LLC grew its holdings in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Citigroup raised their price objective on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Evercore ISI upped their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reiterated a “neutral” rating and issued a $843.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $786.00.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Down 1.9%

Shares of The Goldman Sachs Group stock opened at $790.56 on Friday. 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 fifty day simple moving average of $785.07 and a 200-day simple moving average of $709.46. The stock has a market cap of $237.11 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $841.28.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the previous year, the company earned $8.40 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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