AdvisorNet Financial Inc Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

AdvisorNet Financial Inc reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 755 shares of the investment management company’s stock after selling 28 shares during the quarter. AdvisorNet Financial Inc’s holdings in The Goldman Sachs Group were worth $432,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mizuho Securities USA LLC boosted its holdings in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after acquiring an additional 7,475,140 shares during the period. FMR LLC boosted its stake in shares of The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after purchasing an additional 521,054 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares during the last quarter. Janus Henderson Group PLC increased its stake in The Goldman Sachs Group by 154.7% in the 3rd quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock worth $205,403,000 after buying an additional 251,972 shares during the period. Finally, Congress Asset Management Co. lifted its holdings in The Goldman Sachs Group by 829.0% during the 3rd quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock valued at $128,886,000 after buying an additional 232,297 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In other news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This represents a 5.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,940 shares of company stock valued at $12,656,179 over the last ninety days. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group Trading Up 6.0 %

Shares of NYSE:GS opened at $605.89 on Thursday. 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 firm has a market capitalization of $190.19 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.85 and a beta of 1.38. The business’s 50-day moving average is $585.67 and its 200 day moving average is $527.58. The Goldman Sachs Group, Inc. has a 1 year low of $372.07 and a 1 year high of $612.73.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same period last year, the firm posted $5.48 EPS. The Goldman Sachs Group’s revenue was up 22.5% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GS shares. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Oppenheimer reduced their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. UBS Group reiterated a “neutral” rating and issued a $610.00 target price on shares of The Goldman Sachs Group in a report on Monday, January 6th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Finally, JMP Securities upped their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $569.31.

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.