Commonwealth Financial Services LLC Acquires Shares of 4,375 General Motors (NYSE:GM)

Commonwealth Financial Services LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,375 shares of the auto manufacturer’s stock, valued at approximately $204,000.

A number of other large investors have also modified their holdings of GM. Public Employees Retirement Association of Colorado lifted its position in General Motors by 1,213.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after buying an additional 2,035,925 shares in the last quarter. US Bancorp DE increased its stake in shares of General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after acquiring an additional 32,331 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares during the period. ACR Alpine Capital Research LLC grew its holdings in shares of General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares during the period. Finally, BDF Gestion acquired a new stake in General Motors during the second quarter worth about $2,886,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on GM shares. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. Wolfe Research started coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wells Fargo & Company decreased their target price on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.17.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

Shares of NYSE GM opened at $48.05 on Tuesday. The stock’s 50-day moving average is $46.25 and its two-hundred day moving average is $45.36. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market cap of $54.82 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

General Motors declared that its board has approved a stock repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About General Motors

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.