General Motors (NYSE:GM) Shares Sold by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,610 shares of the auto manufacturer’s stock after selling 822 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in General Motors were worth $823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in General Motors by 1.4% during the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after buying an additional 1,580,681 shares during the period. Putnam Investments LLC grew its position in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares during the period. Norges Bank acquired a new position in General Motors during the fourth quarter worth about $602,280,000. Finally, Morgan Stanley grew its position in General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after buying an additional 201,080 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on GM shares. Wells Fargo & Company upped their target price on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Sanford C. Bernstein assumed coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. Wedbush increased their price target on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has an average rating of “Moderate Buy” and a consensus target price of $54.91.

Insider Activity

In other news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $46.45 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a market cap of $52.99 billion, a P/E ratio of 5.68, a P/E/G ratio of 0.48 and a beta of 1.46. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The firm’s 50 day moving average is $45.60 and its two-hundred day moving average is $41.35.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. Analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors announced that its board has authorized a share buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.