InterOcean Capital LLC reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,986 shares of the investment management company’s stock after selling 9,732 shares during the period. Goldman Sachs Group makes up approximately 1.3% of InterOcean Capital LLC’s holdings, making the stock its 26th largest holding. InterOcean Capital LLC’s holdings in Goldman Sachs Group were worth $14,220,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GS. Emerald Advisers LLC acquired a new stake in Goldman Sachs Group in the 4th quarter valued at $25,000. Permanens Capital L.P. bought a new position in shares of Goldman Sachs Group during the fourth quarter valued at $25,000. Virtus ETF Advisers LLC acquired a new stake in shares of Goldman Sachs Group in the 4th quarter valued at $25,000. Firestone Capital Management bought a new stake in shares of Goldman Sachs Group in the 4th quarter worth about $30,000. Finally, Solstein Capital LLC bought a new stake in shares of Goldman Sachs Group in the 4th quarter worth about $32,000. 70.37% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on GS. Citigroup restated a “buy” rating and issued a $245.00 price target on shares of Goldman Sachs Group in a research report on Thursday, April 16th. Deutsche Bank reissued a “buy” rating and issued a $227.00 target price (down from $253.00) on shares of Goldman Sachs Group in a report on Thursday, April 2nd. Bank of America decreased their price target on Goldman Sachs Group from $197.00 to $154.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Piper Sandler cut their price objective on Goldman Sachs Group from $278.00 to $214.00 and set an “overweight” rating for the company in a research report on Friday, April 3rd. Finally, Cfra upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and decreased their target price for the stock from $220.00 to $210.00 in a report on Wednesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $223.15.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, April 15th. The investment management company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.28. Goldman Sachs Group had a return on equity of 9.26% and a net margin of 14.04%. The business had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.92 billion. During the same period last year, the company earned $5.71 EPS. The firm’s revenue was down .7% on a year-over-year basis. Research analysts forecast that Goldman Sachs Group Inc will post 13.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, May 29th. Goldman Sachs Group’s dividend payout ratio (DPR) 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.
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