Cadinha & Co. LLC Cuts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Cadinha & Co. LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 24.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 24,500 shares of the investment management company's stock after selling 7,735 shares during the period. The Goldman Sachs Group makes up 2.9% of Cadinha & Co. LLC's investment portfolio, making the stock its 17th biggest position. Cadinha & Co. LLC's holdings in The Goldman Sachs Group were worth $13,384,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Stephens Consulting LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $26,000. Asset Planning Inc purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $29,000. Curio Wealth LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $30,000. Transce3nd LLC purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GS. Evercore ISI reduced their price objective on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. Daiwa America downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Royal Bank of Canada dropped their target price on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their target price on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $593.40.

The Goldman Sachs Group Trading Up 1.0%

Shares of NYSE:GS traded up $5.99 during trading on Tuesday, reaching $604.71. 707,758 shares of the company were exchanged, compared to its average volume of 2,366,945. The firm has a market capitalization of $185.55 billion, a PE ratio of 14.91, a P/E/G ratio of 0.89 and a beta of 1.32. The business's fifty day simple moving average is $551.19 and its 200-day simple moving average is $582.20. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $672.19.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The firm had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same quarter last year, the firm earned $11.58 EPS. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director now owns 3,904 shares of the company's stock, valued at approximately $1,997,598.72. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

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.