Wasatch Advisors Inc. cut its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 52.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,020 shares of the auto manufacturer’s stock after selling 71,720 shares during the quarter. Wasatch Advisors Inc.’s holdings in General Motors were worth $2,306,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Berkshire Hathaway Inc. lifted its position in shares of General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Swiss National Bank lifted its position in shares of General Motors by 1.2% during the second quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after purchasing an additional 56,500 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of General Motors by 0.4% during the second quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after purchasing an additional 3,298 shares during the last quarter. Intrust Bank NA lifted its position in shares of General Motors by 0.3% during the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its position in shares of General Motors by 12.5% during the second quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after purchasing an additional 82,201 shares during the last quarter. 72.50% of the stock is owned by hedge funds and other institutional investors.
General Motors Company (NYSE:GM) traded down 1.9974% during midday trading on Friday, hitting $44.3462. The company had a trading volume of 3,415,592 shares. The company has a market cap of $64.62 billion, a price-to-earnings ratio of 7.7097 and a beta of 1.45. The firm has a 50-day moving average price of $41.89 and a 200-day moving average price of $36.54. General Motors Company has a 12 month low of $30.21 and a 12 month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. Equities analysts anticipate that General Motors Company will post $6.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.36%. General Motors’s dividend payout ratio (DPR) is presently 77.95%.
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GM has been the subject of several research analyst reports. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 target price on shares of General Motors in a research report on Tuesday, September 12th. UBS AG restated a “buy” rating and set a $50.00 price target (up previously from $39.00) on shares of General Motors in a research note on Wednesday, October 11th. Royal Bank Of Canada raised their price target on General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday. BMO Capital Markets upgraded General Motors to a “market perform” rating and raised their price target for the company from $41.00 to $48.00 in a research note on Wednesday. Finally, Barclays PLC upgraded General Motors from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $55.00 in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. General Motors presently has an average rating of “Buy” and an average price target of $43.70.
In other General Motors news, Director Jane L. Mendillo bought 1,440 shares of General Motors stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the acquisition, the director now directly owns 4,560 shares of the company’s stock, valued at $158,961.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 819,646 shares of company stock valued at $31,188,377 in the last quarter. Insiders own 0.04% of the company’s stock.
General Motors Company 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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