The Goldman Sachs Group, Inc. $GS Position Trimmed by DCM Advisors LLC

Key Points

• DCM Advisors LLC decreased its stake in The Goldman Sachs Group, Inc. by 5.6%, trimming its holdings to 16,032 shares valued at approximately $8.7 million.
• Goldman Sachs reported a quarterly EPS of $10.91, exceeding estimates of $9.82, with revenues of $14.58 billion reflecting a 14.5% year-over-year growth.
• The company announced a quarterly dividend increase to $4.00 per share, representing an annual yield of 2.2%, up from the previous $3.00.

DCM Advisors LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,032 shares of the investment management company's stock after selling 952 shares during the quarter. The Goldman Sachs Group makes up about 4.6% of DCM Advisors LLC's investment portfolio, making the stock its 6th biggest position. DCM Advisors LLC's holdings in The Goldman Sachs Group were worth $8,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. King Wealth Management Group grew its position in The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after acquiring an additional 19 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its position in The Goldman Sachs Group by 0.9% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock worth $1,104,000 after acquiring an additional 19 shares in the last quarter. Wynn Capital LLC grew its position in The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after acquiring an additional 20 shares in the last quarter. 1900 Wealth Management LLC grew its position in The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after acquiring an additional 20 shares in the last quarter. Finally, Register Financial Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 2.5% in the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after purchasing an additional 20 shares during the period. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GS shares. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. HSBC reissued a "reduce" rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $660.00.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $741.20 on Tuesday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $757.35. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $224.38 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.57 and a beta of 1.41. The firm's fifty day moving average is $724.28 and its two-hundred day moving average is $627.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company earned $8.62 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

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.

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