General Motors (NYSE:GM) Shares Sold by Capital International Sarl

Capital International Sarl trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 93.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,251 shares of the auto manufacturer’s stock after selling 83,797 shares during the period. Capital International Sarl’s holdings in General Motors were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. LifeSteps Financial Inc. acquired a new position in General Motors in the first quarter valued at $25,000. Montag A & Associates Inc. purchased a new stake in shares of General Motors during the 1st quarter worth about $30,000. YHB Investment Advisors Inc. acquired a new stake in General Motors during the 1st quarter worth approximately $32,000. Highlander Capital Management LLC purchased a new position in General Motors in the fourth quarter valued at approximately $27,000. Finally, Riverview Trust Co acquired a new position in General Motors during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 0.0 %

Shares of GM stock traded down $0.01 during trading hours on Friday, reaching $44.12. 18,411,118 shares of the stock traded hands, compared to its average volume of 14,026,488. The business has a fifty day moving average price of $46.49 and a 200 day moving average price of $42.97. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a quick ratio of 0.97, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $49.59 billion, a PE ratio of 5.39, a PEG ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the prior year, the business earned $1.91 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that General Motors will post 9.93 EPS for the current year.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.09%. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock worth $51,818,111 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent research reports. Barclays boosted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. UBS Group upped their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday. Finally, Mizuho lifted their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

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.