Hudson Valley Investment Advisors Inc. ADV Raises Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Hudson Valley Investment Advisors Inc. ADV increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 29.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 679 shares of the investment management company’s stock after buying an additional 154 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in The Goldman Sachs Group were worth $307,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 1.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock valued at $653,000 after acquiring an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in The Goldman Sachs Group by 1.3% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock worth $779,000 after purchasing an additional 24 shares in the last quarter. Powell Investment Advisors LLC raised its holdings 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 acquiring an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings 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 acquiring an additional 25 shares in the last quarter. Finally, Optas LLC raised its holdings 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 acquiring an additional 25 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Price Performance

GS traded down $11.75 during trading on Monday, hitting $458.89. The company’s stock had a trading volume of 4,176,211 shares, compared to its average volume of 2,362,794. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $517.26. The business’s fifty day simple moving average is $469.30 and its 200 day simple moving average is $429.12. The firm has a market capitalization of $147.98 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 0.99 and a beta of 1.37.

The Goldman Sachs Group Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.62%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GS shares. HSBC upped their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JMP Securities upped their price objective on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Evercore ISI increased their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. UBS Group raised their price objective on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Bank of America increased their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $495.94.

Insider Transactions at The Goldman Sachs Group

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

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.