Wharton Business Group LLC trimmed its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 95.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,145 shares of the auto manufacturer’s stock after selling 294,785 shares during the quarter. Wharton Business Group LLC’s holdings in General Motors were worth $529,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of General Motors during the first quarter worth approximately $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC acquired a new stake in shares of General Motors during the first quarter worth approximately $107,000. Ffcm LLC boosted its holdings in shares of General Motors by 2,008.1% during the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after purchasing an additional 3,213 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of General Motors by 171.9% during the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock worth $182,000 after purchasing an additional 3,262 shares during the period. Institutional investors own 72.21% of the company’s stock.
Shares of General Motors Company (NYSE GM) traded up 1.20% during midday trading on Tuesday, hitting $37.80. 1,481,616 shares of the stock traded hands. The stock has a 50 day moving average of $35.68 and a 200 day moving average of $35.02. The company has a market capitalization of $55.08 billion, a P/E ratio of 6.57 and a beta of 1.44. General Motors Company has a 1-year low of $30.21 and a 1-year high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the business earned $1.86 earnings per share. General Motors’s revenue was down 1.1% on a year-over-year basis. Equities research analysts predict that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.
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In other General Motors news, Director Jane L. Mendillo acquired 1,440 shares of General Motors stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, with a total value of $50,198.40. Following the completion of the purchase, the director now directly owns 4,560 shares of the company’s stock, valued at approximately $158,961.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Quattrone sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $35.00, for a total value of $525,000.00. Following the completion of the sale, the insider now directly owns 42,623 shares in the company, valued at $1,491,805. The disclosure for this sale can be found here. Insiders sold 330,673 shares of company stock worth $11,590,746 in the last 90 days. 0.04% of the stock is owned by company insiders.
Several research firms recently commented on GM. Buckingham Research restated a “hold” rating on shares of General Motors in a report on Thursday, August 24th. Wolfe Research began coverage on shares of General Motors in a report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price target for the company. Zacks Investment Research cut shares of General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. BidaskClub cut shares of General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Guggenheim began coverage on shares of General Motors in a report on Wednesday, June 21st. They set a “neutral” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.97.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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