Adell Harriman & Carpenter Inc. Trims Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Adell Harriman & Carpenter Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,128 shares of the investment management company's stock after selling 1,434 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in The Goldman Sachs Group were worth $10,009,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Aveo Capital Partners LLC lifted its holdings in The Goldman Sachs Group by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company's stock worth $269,000 after purchasing an additional 53 shares in the last quarter. Sapient Capital LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $268,000. Vestmark Advisory Solutions Inc. purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $304,000. Connecticut Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 4.8% in the 4th quarter. Connecticut Wealth Management LLC now owns 1,090 shares of the investment management company's stock worth $420,000 after purchasing an additional 50 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in The Goldman Sachs Group by 14.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,934 shares of the investment management company's stock worth $746,000 after purchasing an additional 248 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction on 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 transaction, the director now owns 12,450 shares of the company's stock, valued at approximately $6,287,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction on 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 transaction, the director now owns 12,450 shares of the company's stock, valued at approximately $6,287,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GS shares. Wells Fargo & Company lifted 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. Barclays lifted their price objective 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. Oppenheimer lifted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 16th. Morgan Stanley lifted their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price objective 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $495.94.

The Goldman Sachs Group Trading Down 4.5 %

GS stock traded down $22.88 during midday trading on Tuesday, reaching $487.37. The company's stock had a trading volume of 2,371,969 shares, compared to its average volume of 2,275,288. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day simple moving average of $486.66 and a two-hundred day simple moving average of $445.78. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The firm has a market capitalization of $153.91 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 0.79 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping analysts' consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.07 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. Shareholders of record on Friday, August 30th will be paid a $3.00 dividend. 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 dividend on an annualized basis and a yield of 2.46%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 42.95%.

The Goldman Sachs Group 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.