The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 66.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,929 shares of the investment management company’s stock after selling 13,996 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in The Goldman Sachs Group were worth $2,651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Cambridge Trust Co. lifted its position in The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after acquiring an additional 41 shares during the period. Truvestments Capital LLC grew its stake in The Goldman Sachs Group by 88.0% in the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 44 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $32,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at $42,000. Finally, CNB Bank boosted its stake in shares of The Goldman Sachs Group by 55.7% during the 3rd quarter. CNB Bank now owns 165 shares of the investment management company’s stock worth $53,000 after purchasing an additional 59 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup upped their target price on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $333.00 to $449.00 in a research note on Tuesday, January 30th. Barclays increased their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $437.04.

The Goldman Sachs Group Stock Down 0.8 %

Shares of NYSE GS traded down $3.27 during midday trading on Tuesday, reaching $427.54. The company’s stock had a trading volume of 862,738 shares, compared to its average volume of 2,368,059. The stock has a market capitalization of $138.75 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.35 and a beta of 1.43. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $433.33. The stock has a 50 day simple moving average of $401.20 and a 200-day simple moving average of $371.75. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.79 EPS. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.86 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.57%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the sale, the treasurer now owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

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.