Mittelman Wealth Management Trims Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Mittelman Wealth Management lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 76.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 794 shares of the investment management company’s stock after selling 2,635 shares during the quarter. The Goldman Sachs Group comprises 0.2% of Mittelman Wealth Management’s portfolio, making the stock its 23rd biggest holding. Mittelman Wealth Management’s holdings in The Goldman Sachs Group were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $27,000. Quest Partners LLC boosted its stake in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the period. Finally, West Branch Capital LLC purchased a new stake in The Goldman Sachs Group during the 3rd quarter valued at approximately $30,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Goldman Sachs Group

In other news, 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 transaction of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock worth $13,717,979 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Down 0.9 %

Shares of NYSE:GS opened at $594.12 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $553.26 and a two-hundred day simple moving average of $505.37. The Goldman Sachs Group, Inc. has a 1 year low of $349.05 and a 1 year high of $612.73. The firm has a market capitalization of $186.50 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38.

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

The Goldman Sachs Group Dividend Announcement

The business 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 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GS shares. Hsbc Global Res cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Evercore ISI increased their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer upped their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Friday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $559.75.

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.