IHT Wealth Management LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,323 shares of the auto manufacturer’s stock, valued at approximately $286,000.
Several other hedge funds also recently modified their holdings of GM. AGF Investments LLC raised its stake in shares of General Motors by 28.0% in the 2nd quarter. AGF Investments LLC now owns 1,183 shares of the auto manufacturer’s stock valued at $46,000 after buying an additional 259 shares in the last quarter. Econ Financial Services Corp boosted its stake in General Motors by 3.3% in the 1st quarter. Econ Financial Services Corp now owns 8,164 shares of the auto manufacturer’s stock valued at $303,000 after buying an additional 264 shares in the last quarter. Cedar Brook Financial Partners LLC boosted its stake in General Motors by 4.2% in the 1st quarter. Cedar Brook Financial Partners LLC now owns 6,827 shares of the auto manufacturer’s stock valued at $253,000 after buying an additional 276 shares in the last quarter. Zions Bancorporation N.A. grew its position in General Motors by 11.1% in the first quarter. Zions Bancorporation N.A. now owns 2,906 shares of the auto manufacturer’s stock valued at $108,000 after acquiring an additional 290 shares during the period. Finally, Milestone Group Inc. raised its stake in General Motors by 4.1% during the second quarter. Milestone Group Inc. now owns 7,350 shares of the auto manufacturer’s stock worth $283,000 after acquiring an additional 291 shares in the last quarter. 77.36% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Matthew Tsien sold 83,067 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $39.50, for a total value of $3,281,146.50. Following the completion of the sale, the executive vice president now directly owns 84,667 shares of the company’s stock, valued at approximately $3,344,346.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 275,944 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares in the company, valued at $19,190,902.39. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
A number of equities research analysts recently issued reports on GM shares. Royal Bank of Canada increased their target price on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Nomura set a $38.00 price objective on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday, August 7th. Credit Suisse Group initiated coverage on shares of General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 target price for the company. Citigroup boosted their target price on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, ValuEngine lowered General Motors from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.62.
General Motors stock opened at $39.58 on Wednesday. The business’s 50-day simple moving average is $38.50 and its 200 day simple moving average is $38.03. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 1.56. The stock has a market cap of $56.51 billion, a price-to-earnings ratio of 6.05, a P/E/G ratio of 0.65 and a beta of 1.42. General Motors has a 12-month low of $30.56 and a 12-month high of $41.90.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company had revenue of $36.06 billion for the quarter, compared to the consensus estimate of $36.03 billion. During the same period in the prior year, the company posted $1.81 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that General Motors will post 6.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is currently 23.24%.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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