ASB Consultores LLC Has $238,000 Position in General Motors (NYSE:GM)

ASB Consultores LLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 60.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,129 shares of the auto manufacturer’s stock after selling 7,881 shares during the quarter. ASB Consultores LLC’s holdings in General Motors were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC bought a new position in shares of General Motors during the fourth quarter worth approximately $335,000. Gladstone Institutional Advisory LLC bought a new position in General Motors during the 4th quarter worth $218,000. Quest Partners LLC bought a new position in General Motors during the 4th quarter worth $244,000. Assetmark Inc. raised its holdings in General Motors by 15.7% in the 4th quarter. Assetmark Inc. now owns 86,819 shares of the auto manufacturer’s stock valued at $3,119,000 after acquiring an additional 11,811 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of General Motors by 25.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,708 shares of the auto manufacturer’s stock valued at $205,000 after acquiring an additional 1,162 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GM shares. Bank of America restated a “buy” rating and issued a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Wells Fargo & Company cut their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.5 %

GM opened at $48.88 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company’s 50 day moving average price is $46.28 and its two-hundred day moving average price is $45.23. The firm has a market capitalization of $55.77 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 earnings per share. As a group, research analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is presently 5.87%.

General Motors declared that its board has initiated a share buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

General Motors 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.