Checchi Capital Advisers LLC Purchases 1,002 Shares of General Motors (NYSE:GM)
Checchi Capital Advisers LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,744 shares of the auto manufacturer’s stock after buying an additional 1,002 shares during the quarter. Checchi Capital Advisers LLC’s holdings in General Motors were worth $265,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. TRUE Private Wealth Advisors bought a new position in shares of General Motors during the 4th quarter worth $25,000. Advisory Alpha LLC boosted its position in General Motors by 76.9% during the first quarter. Advisory Alpha LLC now owns 1,159 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 504 shares in the last quarter. CFM Wealth Partners LLC bought a new stake in General Motors during the fourth quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in General Motors by 337.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 778 shares of the auto manufacturer’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Tobias Financial Advisors Inc. bought a new stake in General Motors during the fourth quarter valued at about $29,000. 77.47% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on GM shares. UBS Group reaffirmed a “buy” rating and set a $27.00 price objective on shares of General Motors in a research report on Tuesday, March 24th. Zacks Investment Research raised General Motors from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Tuesday, March 17th. Credit Suisse Group reiterated a “buy” rating and issued a $33.00 price target on shares of General Motors in a research note on Friday. Bank of America decreased their price target on General Motors from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Deutsche Bank upgraded General Motors from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Thursday, May 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. General Motors currently has a consensus rating of “Hold” and a consensus target price of $33.47.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Wednesday, May 6th. The auto manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.32. The firm had revenue of $32.71 billion for the quarter, compared to analyst estimates of $31.37 billion. General Motors had a return on equity of 12.73% and a net margin of 3.60%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. Sell-side analysts expect that General Motors will post 1.73 earnings per share for the current year.
In related news, EVP Matthew Tsien acquired 22,400 shares of the stock in a transaction on Wednesday, March 25th. The shares were bought at an average price of $22.97 per share, with a total value of $514,528.00. Following the completion of the purchase, the executive vice president now owns 62,234 shares of the company’s stock, valued at approximately $1,429,514.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.51% of the company’s stock.
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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