First Heartland Consultants Inc. Makes New Investment in General Motors (NYSE:GM)

First Heartland Consultants Inc. bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,681 shares of the auto manufacturer’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Alyeska Investment Group L.P. raised its holdings in shares of General Motors by 3,174.7% during the first quarter. Alyeska Investment Group L.P. now owns 468,713 shares of the auto manufacturer’s stock valued at $26,932,000 after buying an additional 454,400 shares during the last quarter. Psagot Investment House Ltd. bought a new stake in shares of General Motors during the first quarter valued at approximately $34,000. Frontier Wealth Management LLC raised its holdings in shares of General Motors by 5.7% during the first quarter. Frontier Wealth Management LLC now owns 14,650 shares of the auto manufacturer’s stock valued at $842,000 after buying an additional 785 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of General Motors by 111.6% during the first quarter. Perigon Wealth Management LLC now owns 31,912 shares of the auto manufacturer’s stock valued at $1,834,000 after buying an additional 16,830 shares during the last quarter. Finally, IHT Wealth Management LLC raised its holdings in shares of General Motors by 44.2% during the first quarter. IHT Wealth Management LLC now owns 13,470 shares of the auto manufacturer’s stock valued at $774,000 after buying an additional 4,128 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GM opened at $57.05 on Thursday. General Motors has a twelve month low of $24.44 and a twelve month high of $64.30. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market cap of $82.76 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.86 and a beta of 1.32. The business’s 50 day moving average price is $58.76.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Wednesday, May 5th. The auto manufacturer reported $2.25 earnings per share for the quarter, topping the consensus estimate of $0.97 by $1.28. General Motors had a net margin of 7.49% and a return on equity of 19.59%. The firm had revenue of $32.47 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company posted $0.62 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that General Motors will post 6.62 earnings per share for the current fiscal year.

In other news, EVP Matthew Tsien sold 192,986 shares of the business’s stock in a transaction on Friday, June 11th. The shares were sold at an average price of $62.83, for a total transaction of $12,125,310.38. Following the transaction, the executive vice president now directly owns 237,520 shares in the company, valued at approximately $14,923,381.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Randall D. Mott sold 6,000 shares of the business’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $64.01, for a total transaction of $384,060.00. Following the transaction, the executive vice president now owns 122,113 shares in the company, valued at $7,816,453.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,975 shares of company stock worth $13,595,817. Corporate insiders own 0.40% of the company’s stock.

Several brokerages recently commented on GM. UBS Group boosted their target price on General Motors from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, June 29th. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating and set a $51.00 target price on the stock. in a report on Tuesday, April 13th. Tudor Pickering began coverage on General Motors in a report on Tuesday, May 18th. They set a “buy” rating and a $76.00 target price on the stock. Royal Bank of Canada boosted their target price on General Motors from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. Finally, Bank of America boosted their target price on General Motors from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, July 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $67.64.

About General Motors

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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