Baystate Wealth Management LLC Cuts Stock Holdings in Goldman Sachs Group Inc (NYSE:GS)
Baystate Wealth Management LLC decreased its position in Goldman Sachs Group Inc (NYSE:GS) by 31.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 280 shares of the investment management company’s stock after selling 129 shares during the quarter. Baystate Wealth Management LLC’s holdings in Goldman Sachs Group were worth $56,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Howe & Rusling Inc. bought a new position in shares of Goldman Sachs Group in the second quarter valued at approximately $35,000. Heritage Wealth Advisors lifted its holdings in Goldman Sachs Group by 495.0% during the second quarter. Heritage Wealth Advisors now owns 1,190 shares of the investment management company’s stock worth $39,000 after acquiring an additional 990 shares during the period. Crewe Advisors LLC boosted its position in Goldman Sachs Group by 42.8% in the third quarter. Crewe Advisors LLC now owns 207 shares of the investment management company’s stock worth $42,000 after purchasing an additional 62 shares during the last quarter. Costello Asset Management INC purchased a new position in Goldman Sachs Group in the second quarter worth $44,000. Finally, West Oak Capital LLC bought a new position in Goldman Sachs Group in the 3rd quarter valued at $48,000. Institutional investors own 68.70% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Goldman Sachs Group from $253.00 to $270.00 and gave the stock an “equal weight” rating in a report on Thursday. Oppenheimer boosted their target price on shares of Goldman Sachs Group from $326.00 to $356.00 in a research note on Thursday. JMP Securities raised their price target on shares of Goldman Sachs Group from $280.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Thursday. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $230.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, July 16th. Finally, Credit Suisse Group increased their price objective on Goldman Sachs Group from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $249.29.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, October 19th. The investment management company reported $9.68 EPS for the quarter, beating analysts’ consensus estimates of $5.57 by $4.11. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 9.07%. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same period in the previous year, the business earned $4.79 EPS. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. Research analysts forecast that Goldman Sachs Group Inc will post 14.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be paid a $1.25 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
Further Reading: Hedge Funds – Risk or Reward?
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