Altman Advisors Inc. Takes $2.10 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Altman Advisors Inc. purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,243 shares of the investment management company's stock, valued at approximately $2,101,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Procyon Advisors LLC raised its position in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company's stock valued at $411,000 after purchasing an additional 43 shares during the period. Brookstone Capital Management grew its holdings in shares of The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company's stock worth $2,268,000 after acquiring an additional 761 shares during the period. Axxcess Wealth Management LLC grew its holdings in The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company's stock valued at $5,018,000 after buying an additional 2,442 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter worth $5,529,000. Finally, Bessemer Group Inc. raised its position in shares of The Goldman Sachs Group by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company's stock worth $9,097,000 after buying an additional 7,826 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS traded up $0.55 during trading hours on Wednesday, reaching $581.93. The stock had a trading volume of 1,523,962 shares, compared to its average volume of 2,221,519. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15. The stock has a market cap of $182.67 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The stock has a fifty day moving average of $522.37 and a 200 day moving average of $491.32. 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 - Get Free Report) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts' consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the company posted $5.47 EPS. The business's revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group's payout ratio is currently 35.21%.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research reports. Wolfe Research upgraded The Goldman Sachs Group to a "hold" rating in a research note on Wednesday, September 18th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Royal Bank of Canada restated a "sector perform" rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Barclays upped their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, JMP Securities boosted their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $535.75.

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.