Mittelman Wealth Management Sells 2,635 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Mittelman Wealth Management trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 76.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 794 shares of the investment management company’s stock after selling 2,635 shares during the period. The Goldman Sachs Group accounts for 0.2% of Mittelman Wealth Management’s portfolio, making the stock its 23rd largest position. Mittelman Wealth Management’s holdings in The Goldman Sachs Group were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GS. Dynamic Advisor Solutions LLC lifted its holdings in shares of The Goldman Sachs Group by 9.5% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,186 shares of the investment management company’s stock valued at $1,441,000 after purchasing an additional 277 shares during the last quarter. Friedenthal Financial acquired a new position in The Goldman Sachs Group during the 2nd quarter valued at about $52,000. Great Valley Advisor Group Inc. raised its stake in The Goldman Sachs Group by 1.0% in the second quarter. Great Valley Advisor Group Inc. now owns 2,846 shares of the investment management company’s stock valued at $1,287,000 after buying an additional 28 shares during the last quarter. Tsfg LLC boosted its holdings in The Goldman Sachs Group by 11.8% in the second quarter. Tsfg LLC now owns 683 shares of the investment management company’s stock worth $309,000 after acquiring an additional 72 shares in the last quarter. Finally, PGGM Investments increased its holdings in shares of The Goldman Sachs Group by 86.4% during the second quarter. PGGM Investments now owns 21,487 shares of the investment management company’s stock valued at $9,719,000 after acquiring an additional 9,960 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $594.12 on Tuesday. The company has a fifty day moving average of $553.26 and a two-hundred day moving average of $505.37. The Goldman Sachs Group, Inc. has a fifty-two week low of $349.05 and a fifty-two week high of $612.73. The stock has a market capitalization of $186.50 billion, a PE ratio of 17.43, a P/E/G ratio of 0.87 and a beta of 1.38. 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 Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $11.77 billion. During the same period in the previous year, the business earned $5.47 EPS. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal 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 issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GS shares. Morgan Stanley upped their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday. Barclays lifted their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, JMP Securities increased their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $559.75.

Insider Buying and Selling

In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the transaction, the director now owns 608,425 shares of the company’s stock, valued at $372,404,774. This represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,940 shares of company stock worth $13,717,979. 0.54% of the stock is owned by corporate 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.