WestEnd Advisors LLC Reduces Stake in Goldman Sachs

WestEnd Advisors LLC has decreased its investment in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.8% during the fourth quarter of the year, based on their latest Form 13F submission to the Securities and Exchange Commission (SEC). This decision followed the sale of 3,387 shares, leaving the fund with a total of 85,874 shares in this investment management company. As a result, Goldman Sachs now constitutes 1.3% of WestEnd Advisors LLC's overall investment portfolio, making it the firm's 18th largest holding.

According to the latest information provided in the SEC filing, WestEnd Advisors LLC's holdings in Goldman Sachs are valued at approximately $49,173,000.

Changes in Other Investors' Stakes

Other institutional investors and hedge funds have also adjusted their positions in Goldman Sachs. For instance, Jackson Grant Investment Advisers Inc. increased its stake by 10.9% during the fourth quarter, resulting in ownership of 163 shares worth $93,000. Meanwhile, Ledyard National Bank raised its investment by 3.4%, now holding 486 shares valued at $278,000 after acquiring an additional 16 shares.

Seelaus Asset Management LLC also grew its holdings in Goldman Sachs by 2.5%, bringing its total to 660 shares worth $378,000. Similarly, Genesee Capital Advisors LLC lifted its stake by 1.0%, owning 1,788 shares valued at $1,024,000, while Horst & Graben Wealth Management LLC saw its holdings increase by 1.5%, totaling 1,179 shares worth $675,000. Overall, institutional investors and hedge funds now collectively hold about 71.21% of the company's stock.

Insider Sales at Goldman Sachs

In related news, insider Alex S. Golten sold 5,208 shares of Goldman Sachs on January 28th, for an average price of $636.25 per share, totaling approximately $3,313,590. Following this transaction, Golten's remaining shares in the company are valued at around $2,255,506.25, reflecting a considerable reduction of 59.50% in his ownership.

Additionally, the Chief Accounting Officer, Sheara J. Fredman, sold 2,034 shares on January 21st at an average price of $627.01, amounting to roughly $1,275,338.34. After this sale, Fredman has 6,455 shares left, worth about $4,047,349.55, which is a 23.96% drop from before the sale. Over a three-month period, insiders have offloaded a total of 31,475 shares valued at $19,692,543, while insiders now hold only 0.54% of the stock.

Goldman Sachs Stock Performance

As of the last market session, shares for Goldman Sachs opened at $655.76. The firm has a market valuation of $203.58 billion, a price-to-earnings (P/E) ratio of 16.17, and a P/E to growth (P/E/G) ratio of 0.91, along with a beta of 1.39. The debt-to-equity ratio stands at 2.32, with a quick ratio and current ratio both at 0.67. The stock has shown a 50-day moving average price at $600.00 and a 200-day moving average price at $546.46, with a one-year low of $375.20 and a high of $663.87.

Latest Earnings Results

The Goldman Sachs Group recently announced its earnings results on January 15th, reporting earnings per share (EPS) of $11.95 for the quarter. This exceeded analyst expectations of $8.21 by $3.74. The company posted a net margin of 11.32%, with a return on equity of 13.30%. Additionally, Goldman Sachs generated revenue of $13.87 billion in the quarter, surpassing estimates of $12.36 billion. Compared to the same quarter the previous year, revenue increased by 22.5%, with EPS from last year recorded at $5.48. Analysts predict that Goldman Sachs is on track to post an EPS of 47.12 for the current fiscal year.

Dividend Announcement

The company also revealed a quarterly dividend, set to be distributed on March 28th. Shareholders recorded as of February 28th will receive a dividend of $3.00 per share, which translates to an annualized dividend of $12.00 and a yield of 1.83%. Goldman Sachs has a dividend payout ratio (DPR) of 29.59%.

Analyst Ratings Overview

In recent evaluations, several brokerages have provided updated ratings for Goldman Sachs. Evercore ISI raised their price target from $520.00 to $575.00, awarding the stock an “outperform” rating. Oppenheimer lowered its price target from $677.00 to $639.00 while maintaining an “outperform” rating.

JPMorgan Chase & Co. adjusted their target price upward from $550.00 to $605.00, rating the stock as “overweight.” Citigroup likewise elevated their price target from $485.00 to $585.00, giving it a “neutral” rating. Wells Fargo & Co. increased their target from $600.00 to $680.00 and categorized the stock as “overweight.” Currently, eight analysts have a hold rating for Goldman Sachs, while twelve maintain a buy rating. The consensus rating is a “Moderate Buy” with an average target price of $591.06.Goldman, Securities, Investment