Spectrum Wealth Counsel LLC Cuts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Spectrum Wealth Counsel LLC cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 20,351 shares of the investment management company’s stock after selling 68 shares during the quarter. The Goldman Sachs Group makes up approximately 1.4% of Spectrum Wealth Counsel LLC’s holdings, making the stock its 21st largest holding. Spectrum Wealth Counsel LLC’s holdings in The Goldman Sachs Group were worth $11,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. Swedbank AB boosted its stake in The Goldman Sachs Group by 4.2% in the third quarter. Swedbank AB now owns 339,047 shares of the investment management company’s stock valued at $167,866,000 after acquiring an additional 13,730 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at approximately $75,000. Stephens Inc. AR lifted its stake in shares of The Goldman Sachs Group by 70.6% during the 3rd quarter. Stephens Inc. AR now owns 54,548 shares of the investment management company’s stock valued at $27,007,000 after buying an additional 22,580 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of The Goldman Sachs Group by 18.5% during the 3rd quarter. Principal Securities Inc. now owns 6,346 shares of the investment management company’s stock valued at $3,142,000 after buying an additional 992 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of The Goldman Sachs Group by 3.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 724 shares of the investment management company’s stock valued at $358,000 after buying an additional 22 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the completion of the sale, the treasurer now owns 8,192 shares of the company’s stock, valued at $5,117,296.64. This represents a 15.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,925 shares of company stock valued at $12,630,683. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $622.11 on Friday. The Goldman Sachs Group, Inc. has a one year low of $381.42 and a one year high of $672.19. The firm has a market capitalization of $194.12 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.89 and a beta of 1.39. The company’s fifty day moving average price is $616.74 and its 200-day moving average price is $562.46. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same quarter in the prior year, the company earned $5.48 EPS. The firm’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.93%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Analysts Set New Price Targets

A number of analysts recently commented on GS shares. Citigroup upped their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. UBS Group upped their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Oppenheimer dropped their price target on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $690.00 to $660.00 in a report on Thursday. Finally, Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $591.69.

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.