Axxcess Wealth Management LLC Reduces Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Axxcess Wealth Management LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,655 shares of the investment management company's stock after selling 983 shares during the period. Axxcess Wealth Management LLC's holdings in The Goldman Sachs Group were worth $6,913,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Cornerstone Planning Group LLC boosted its stake in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after buying an additional 23 shares during the period. GFG Capital LLC increased its holdings in The Goldman Sachs Group by 11.5% in the first quarter. GFG Capital LLC now owns 418 shares of the investment management company's stock valued at $229,000 after purchasing an additional 43 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in The Goldman Sachs Group by 13.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 620 shares of the investment management company's stock worth $339,000 after acquiring an additional 72 shares during the period. Greenleaf Trust grew its holdings in The Goldman Sachs Group by 0.6% during the 1st quarter. Greenleaf Trust now owns 10,795 shares of the investment management company's stock worth $5,897,000 after acquiring an additional 60 shares during the period. Finally, New Insight Wealth Advisors grew its holdings in The Goldman Sachs Group by 8.7% during the 1st quarter. New Insight Wealth Advisors now owns 2,365 shares of the investment management company's stock worth $1,292,000 after acquiring an additional 189 shares during the period. Institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GS. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday. Morgan Stanley reaffirmed an "equal weight" rating on shares of The Goldman Sachs Group in a report on Thursday. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a report on Tuesday. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Barclays reduced their price target on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $614.00.

Insider Transactions at The Goldman Sachs Group

In related news, Director John B. Hess acquired 3,904 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the transaction, the director owned 3,904 shares of the company's stock, valued at $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded down $5.01 during mid-day trading on Friday, reaching $704.11. 1,681,679 shares of the company traded hands, compared to its average volume of 2,388,916. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $726.00. The company has a market capitalization of $216.05 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35. The firm's fifty day moving average is $632.13 and its two-hundred day moving average is $596.48.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. During the same period in the prior year, the firm posted $11.58 earnings per share. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 1.70%. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

The Goldman Sachs Group Company Profile

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.