Fairhaven Wealth Management LLC Has $241,000 Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Fairhaven Wealth Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 46.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 577 shares of the investment management company’s stock after selling 503 shares during the period. Fairhaven Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $241,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital World Investors increased its holdings in The Goldman Sachs Group by 6.0% during the 4th quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after purchasing an additional 338,181 shares in the last quarter. Morgan Stanley increased its holdings in The Goldman Sachs Group by 7.8% during the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after purchasing an additional 412,383 shares in the last quarter. Fisher Asset Management LLC increased its holdings in The Goldman Sachs Group by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock valued at $2,128,693,000 after purchasing an additional 152,474 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in The Goldman Sachs Group by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock valued at $2,004,153,000 after purchasing an additional 27,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in The Goldman Sachs Group by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after purchasing an additional 274,989 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated 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 completion of the transaction, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Down 0.7 %

Shares of GS traded down $3.17 during midday trading on Friday, hitting $464.75. The stock had a trading volume of 1,594,040 shares, compared to its average volume of 1,825,111. The company has a 50 day simple moving average of $454.22 and a two-hundred day simple moving average of $413.68. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $471.48. The firm has a market cap of $149.87 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74.

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 Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The firm had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter last year, the business posted $8.79 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 36.47 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup increased their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. JMP Securities increased their price objective on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Finally, Evercore ISI raised their price target on The Goldman Sachs Group from $440.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $445.62.

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.