Tobam Sells 1,582 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Tobam lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 74.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 544 shares of the investment management company’s stock after selling 1,582 shares during the quarter. Tobam’s holdings in The Goldman Sachs Group were worth $246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. First Personal Financial Services purchased a new position in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. First United Bank & Trust bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at $26,000. Versant Capital Management Inc grew its position in The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its position in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.2 %

Shares of GS stock traded up $0.91 during trading hours on Friday, hitting $508.01. 682,626 shares of the company’s stock traded hands, compared to its average volume of 2,267,724. The stock’s 50 day simple moving average is $483.44 and its 200 day simple moving average is $442.69. The stock has a market cap of $163.81 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.26%. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.36%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The disclosure for this sale can be found here. Insiders sold 4,013,500 shares of company stock worth $32,181,365 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

GS has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Evercore ISI lifted their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Barclays upped their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley upped their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.94.

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.