WealthBridge Investment Counsel Inc. Sells 285 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

WealthBridge Investment Counsel Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,965 shares of the investment management company’s stock after selling 285 shares during the period. The Goldman Sachs Group comprises approximately 4.0% of WealthBridge Investment Counsel Inc.’s holdings, making the stock its 6th largest holding. WealthBridge Investment Counsel Inc.’s holdings in The Goldman Sachs Group were worth $10,845,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. increased its position in shares of The Goldman Sachs Group by 14.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 8,888 shares of the investment management company’s stock worth $3,713,000 after purchasing an additional 1,112 shares in the last quarter. Kovack Advisors Inc. increased its holdings in shares of The Goldman Sachs Group by 18.5% during the first quarter. Kovack Advisors Inc. now owns 2,790 shares of the investment management company’s stock worth $1,165,000 after buying an additional 435 shares in the last quarter. Arcus Capital Partners LLC raised its stake in shares of The Goldman Sachs Group by 1.0% in the first quarter. Arcus Capital Partners LLC now owns 5,134 shares of the investment management company’s stock valued at $2,144,000 after acquiring an additional 51 shares during the last quarter. Norden Group LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $2,423,000. Finally, Meadow Creek Wealth Advisors LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $1,695,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GS shares. Bank of America increased their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. JMP Securities increased their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $440.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley reduced their price objective on The Goldman Sachs Group from $486.00 to $475.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average target price of $445.62.

The Goldman Sachs Group Stock Up 0.5 %

Shares of GS traded up $2.31 on Thursday, hitting $467.92. The company’s stock had a trading volume of 993,915 shares, compared to its average volume of 1,939,258. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $150.89 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 0.94 and a beta of 1.37. The firm’s fifty day moving average price is $452.52 and its 200-day moving average price is $412.68. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $471.48.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.54 by $3.04. The firm had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $8.79 EPS. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 36.52 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th were issued a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Thursday, May 30th. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Activity at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the transaction, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the transaction, the director now directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Insiders own 0.57% 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.