Soltis Investment Advisors LLC Sells 39 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Soltis Investment Advisors LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 989 shares of the investment management company’s stock after selling 39 shares during the quarter. Soltis Investment Advisors LLC’s holdings in The Goldman Sachs Group were worth $413,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GS. Jacobi Capital Management LLC boosted its position in The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of The Goldman Sachs Group by 1.3% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock worth $779,000 after buying an additional 24 shares during the period. Powell Investment Advisors LLC raised its stake in shares of The Goldman Sachs Group by 0.7% during the 1st quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after buying an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC raised its stake in shares of The Goldman Sachs Group by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock worth $944,000 after buying an additional 25 shares during the period. Finally, Optas LLC raised its stake in shares of The Goldman Sachs Group by 2.4% during the 1st quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock worth $448,000 after buying an additional 25 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Down 5.9 %

GS stock traded down $29.48 during mid-day trading on Friday, reaching $470.64. The company had a trading volume of 6,115,462 shares, compared to its average volume of 2,606,533. The company has a market capitalization of $151.76 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The firm has a fifty day simple moving average of $469.30 and a 200 day simple moving average of $428.42. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $3.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.55%. The Goldman Sachs Group’s payout ratio is 42.95%.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. HSBC upped their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Citigroup raised their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Barclays raised their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares in the company, valued at $6,287,748. The disclosure for this sale can be found here. Insiders have sold a total of 4,013,500 shares of company stock valued at $32,181,365 over the last quarter. Company insiders own 0.54% of the company’s stock.

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.