Centerpoint Advisors LLC Lowers Stake in The Goldman Sachs Group, Inc. $GS

Centerpoint Advisors LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 850 shares of the investment management company’s stock after selling 80 shares during the period. Centerpoint Advisors LLC’s holdings in The Goldman Sachs Group were worth $602,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Winthrop Advisory Group LLC lifted its holdings in shares of The Goldman Sachs Group by 3.4% in the second 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 lifted its holdings in shares of The Goldman Sachs Group by 31.1% in the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after buying an additional 14 shares in the last quarter. KPP Advisory Services LLC lifted its holdings 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 buying an additional 14 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its holdings 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 buying an additional 15 shares in the last quarter. Finally, Mechanics Financial Corp lifted its holdings in shares of The Goldman Sachs Group by 5.8% in the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $789.87 on Tuesday. The company has a market cap of $239.11 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.43 and a beta of 1.42. The firm’s fifty day moving average is $768.75 and its 200 day moving average is $683.40. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter in the prior year, the firm earned $8.40 earnings per share. The Goldman Sachs Group’s revenue was up 19.5% on a year-over-year basis. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS 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. Shareholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is 32.50%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction 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. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GS. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. Citigroup upped their price target on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $779.50.

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.