The Goldman Sachs Group, Inc. $GS Stake Cut by Manchester Capital Management LLC

Manchester Capital Management LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,036 shares of the investment management company’s stock after selling 78 shares during the quarter. Manchester Capital Management LLC’s holdings in The Goldman Sachs Group were worth $733,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GS. Winthrop Advisory Group LLC lifted its position in The Goldman Sachs Group by 3.4% in the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock worth $303,000 after buying an additional 14 shares in the last quarter. Avion Wealth grew its holdings in shares of The Goldman Sachs Group by 31.1% during the 2nd quarter. Avion Wealth now owns 59 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 14 shares in the last quarter. KPP Advisory Services LLC increased its stake in shares of The Goldman Sachs Group by 2.1% in the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock worth $473,000 after acquiring an additional 14 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in shares of The Goldman Sachs Group by 0.7% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock worth $1,586,000 after acquiring an additional 15 shares during the last quarter. Finally, WealthBridge Capital Management LLC raised its holdings in shares of The Goldman Sachs Group by 3.1% during the second quarter. WealthBridge Capital Management LLC now owns 495 shares of the investment management company’s stock worth $350,000 after acquiring an additional 15 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $790.75 on Tuesday. The business’s 50-day simple moving average is $786.08 and its 200-day simple moving average is $721.09. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $841.28. The firm has a market cap of $237.17 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the company earned $8.40 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GS shares. UBS Group boosted their target price on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. BMO Capital Markets began coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Daiwa Capital Markets lifted their target price on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average price target of $786.00.

Insider Transactions at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. This trade represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.55% of the company’s stock.

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.