Bogart Wealth LLC Lowers Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Bogart Wealth LLC cut its Goldman Sachs stake by 96.2% in the first quarter, leaving it with just 422 shares worth about $357,000.
• Goldman Sachs reported strong Q1 earnings, with EPS of $17.55 beating estimates and revenue of $17.23 billion also topping expectations; revenue rose 14.4% year over year.
• The company paid a $4.50 quarterly dividend and has seen notable insider selling, including shares sold by CFO Denis P. Coleman and CAO Sheara J. Fredman.

Bogart Wealth LLC trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 96.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 422 shares of the investment management company's stock after selling 10,631 shares during the period. Bogart Wealth LLC's holdings in The Goldman Sachs Group were worth $357,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of The Goldman Sachs Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock worth $25,503,685,000 after purchasing an additional 418,820 shares during the period. State Street Corp grew its holdings in shares of The Goldman Sachs Group by 2.1% during the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock worth $17,197,444,000 after purchasing an additional 394,198 shares during the period. Fisher Asset Management LLC increased its position in The Goldman Sachs Group by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock worth $5,952,199,000 after purchasing an additional 110,134 shares in the last quarter. Geode Capital Management LLC increased its position in The Goldman Sachs Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company's stock worth $5,896,795,000 after purchasing an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in The Goldman Sachs Group by 3.4% in the fourth quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company's stock valued at $5,254,692,000 after buying an additional 194,109 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Denis P. Coleman sold 6,857 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company's stock, valued at $5,889,079.46. This represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 33,681 shares of company stock valued at $31,737,875. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 3.3%

Shares of NYSE:GS opened at $1,054.81 on Tuesday. The company has a market capitalization of $311.18 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.32 and a beta of 1.30. The company has a 50 day moving average of $1,005.83 and a two-hundred day moving average of $933.17. The Goldman Sachs Group, Inc. has a 52-week low of $691.30 and a 52-week high of $1,125.00. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analysts' expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $14.12 earnings per share. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a $4.50 dividend. The ex-dividend date was Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The Goldman Sachs Group's payout ratio is currently 32.89%.

Analyst Ratings Changes

GS has been the topic of a number of recent research reports. HSBC lifted their price target on shares of The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Dbs Bank raised their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. BNP Paribas Exane reduced their target price on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. Rothschild & Co Redburn increased their price target on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group cut their price objective on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $974.18.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs strengthened its technology leadership by hiring Google executive Evan Kotsovinos as a partner and head of division engineering, and also bringing in another Google engineer to lead asset & wealth management engineering. These hires suggest continued investment in digital capabilities and operational efficiency. Article Title
• Positive Sentiment: Goldman Sachs’ M&A advisory business in EMEA has gained significant market share as regional dealmaking reaches a 19-year high, pointing to stronger investment banking fees if the deal rebound continues. Article Title
• Positive Sentiment: Market commentary tied to Goldman Sachs has been broadly constructive, including the firm’s positive view on stocks such as Nvidia, South Korea equities, and select undervalued names, reinforcing Goldman’s image as a strong market strategist and analyst franchise. Article Title

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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