Cornerstone Capital Management Holdings LLC. cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,614 shares of the auto manufacturer’s stock after selling 29,833 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in General Motors were worth $19,649,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. YorkBridge Wealth Partners LLC lifted its stake in General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after purchasing an additional 310 shares during the period. Ffcm LLC increased its holdings in General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after purchasing an additional 3,213 shares during the period. Ropes Wealth Advisors LLC increased its holdings in General Motors by 240.2% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after purchasing an additional 3,248 shares during the period. Finally, Fayez Sarofim & Co. purchased a new position in shares of General Motors in the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 73.06% of the company’s stock.
A number of brokerages recently issued reports on GM. UBS reissued a “buy” rating and issued a $50.00 target price (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Vetr cut General Motors from a “strong-buy” rating to a “hold” rating and set a $43.99 target price for the company. in a research report on Monday, December 4th. Buckingham Research reaffirmed a “hold” rating on shares of General Motors in a research report on Thursday, August 24th. Craig Hallum set a $45.00 price objective on General Motors and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Piper Jaffray Companies set a $51.00 price target on General Motors and gave the company a “buy” rating in a report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.70.
In other General Motors news, President Daniel Ammann sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the sale, the president now directly owns 185,953 shares of the company’s stock, valued at approximately $7,066,214. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alan S. Batey sold 234,274 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the sale, the insider now directly owns 67,548 shares in the company, valued at $2,569,525.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,059,526 shares of company stock worth $44,428,425. Company insiders own 0.04% of the company’s stock.
General Motors (NYSE GM) opened at $42.02 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $59,685.54, a P/E ratio of 6.79, a PEG ratio of 0.73 and a beta of 1.54. General Motors has a 52-week low of $31.92 and a 52-week 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. research analysts anticipate that General Motors will post 6.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is currently 77.95%.
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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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