Accuvest Global Advisors reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 15.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,633 shares of the auto manufacturer’s stock after selling 1,986 shares during the quarter. Accuvest Global Advisors’ holdings in General Motors were worth $410,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Bigelow Investment Advisors LLC acquired a new stake in General Motors during the second quarter worth about $270,000. CX Institutional increased its stake in General Motors by 12,189.5% during the second quarter. CX Institutional now owns 56,409 shares of the auto manufacturer’s stock worth $2,173,000 after acquiring an additional 55,950 shares during the last quarter. Foster & Motley Inc. increased its stake in General Motors by 96.7% during the second quarter. Foster & Motley Inc. now owns 34,557 shares of the auto manufacturer’s stock worth $1,331,000 after acquiring an additional 16,986 shares during the last quarter. Intl Fcstone Inc. increased its stake in General Motors by 5.0% during the second quarter. Intl Fcstone Inc. now owns 8,039 shares of the auto manufacturer’s stock worth $310,000 after acquiring an additional 380 shares during the last quarter. Finally, Sippican Capital Advisors increased its stake in General Motors by 3.3% during the second quarter. Sippican Capital Advisors now owns 23,414 shares of the auto manufacturer’s stock worth $902,000 after acquiring an additional 750 shares during the last quarter. Institutional investors and hedge funds own 75.92% of the company’s stock.
In other General Motors news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares in the company, valued at approximately $19,190,902.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by company insiders.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The business had revenue of $36.06 billion during the quarter, compared to analyst estimates of $36.03 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts expect that General Motors will post 6.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.52 dividend on an annualized basis and a yield of 4.11%. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
Several equities research analysts have commented on GM shares. Nomura set a $38.00 price target on General Motors and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on General Motors to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine lowered General Motors from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup upped their price target on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Credit Suisse Group started coverage on General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $47.62.
General Motors Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
Recommended Story: What is a Buy-Side Analyst?
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.