General Motors Company (GM) Shares Sold by First Allied Advisory Services Inc.
First Allied Advisory Services Inc. decreased its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 22.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,860 shares of the auto manufacturer’s stock after selling 20,259 shares during the period. First Allied Advisory Services Inc.’s holdings in General Motors were worth $2,476,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Clearbridge Investments LLC boosted its stake in General Motors by 26,374.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after purchasing an additional 3,955,426 shares during the period. Vanguard Group Inc. boosted its stake in General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after purchasing an additional 3,560,717 shares during the period. Prudential Financial Inc. boosted its stake in General Motors by 129.2% during the 1st quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock worth $214,576,000 after purchasing an additional 3,420,200 shares during the period. Alliancebernstein L.P. boosted its stake in General Motors by 87.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock worth $182,967,000 after purchasing an additional 2,407,818 shares during the period. Finally, State Street Corp boosted its stake in General Motors by 3.9% during the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after purchasing an additional 2,252,866 shares during the period. Institutional investors and hedge funds own 72.21% of the company’s stock.
Shares of General Motors Company (NYSE:GM) traded down 0.49% during midday trading on Friday, reaching $40.38. 8,919,368 shares of the company were exchanged. General Motors Company has a 52-week low of $30.21 and a 52-week high of $40.67. The firm’s 50 day moving average is $36.19 and its 200-day moving average is $35.09. The company has a market capitalization of $58.84 billion, a PE ratio of 7.02 and a beta of 1.44.
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 consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same period in the previous year, the business earned $1.86 earnings per share. General Motors’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.76%. The ex-dividend date was Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
In other General Motors news, insider Alan S. Batey sold 8,144 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total value of $289,682.08. Following the sale, the insider now directly owns 66,748 shares in the company, valued at $2,374,226.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patricia F. Russo purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the transaction, the director now owns 12,300 shares of the company’s stock, valued at approximately $427,179. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 639,947 shares of company stock worth $23,485,128. 0.04% of the stock is owned by company insiders.
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A number of brokerages recently weighed in on GM. Buckingham Research reiterated a “hold” rating on shares of General Motors in a research note on Thursday, August 24th. Wolfe Research began coverage on shares of General Motors in a research note 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 research note on Monday, July 24th. BidaskClub cut shares of General Motors from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $43.00 price target (up previously from $40.00) on shares of General Motors in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $39.16.
General Motors 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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