5,878 Shares in General Motors (NYSE:GM) Purchased by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,878 shares of the auto manufacturer’s stock, valued at approximately $273,000.

Other large investors have also modified their holdings of the company. Lake Street Advisors Group LLC increased its stake in General Motors by 10.7% during the 2nd quarter. Lake Street Advisors Group LLC now owns 6,371 shares of the auto manufacturer’s stock valued at $296,000 after buying an additional 614 shares during the period. Savant Capital LLC increased its stake in General Motors by 4.6% during the 2nd quarter. Savant Capital LLC now owns 127,459 shares of the auto manufacturer’s stock valued at $5,922,000 after buying an additional 5,630 shares during the period. Private Advisor Group LLC increased its stake in General Motors by 0.6% during the 2nd quarter. Private Advisor Group LLC now owns 69,514 shares of the auto manufacturer’s stock valued at $3,230,000 after buying an additional 439 shares during the period. Addison Advisors LLC increased its stake in General Motors by 15.0% during the 2nd quarter. Addison Advisors LLC now owns 4,457 shares of the auto manufacturer’s stock valued at $207,000 after buying an additional 583 shares during the period. Finally, Wellington Shields Capital Management LLC acquired a new position in General Motors during the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost 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. Insiders have sold a total of 376,544 shares of company stock valued at $18,134,919 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Down 1.8 %

GM traded down $0.89 during midday trading on Friday, hitting $47.14. 16,080,931 shares of the company’s stock traded hands, compared to its average volume of 15,451,599. The company has a market cap of $53.78 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. The stock’s fifty day simple moving average is $46.27 and its 200-day simple moving average is $44.75. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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. The firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 earnings per share. As a group, equities analysts anticipate that General Motors will post 9.94 earnings per share for the current fiscal year.

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

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio is 5.87%.

Wall Street Analyst Weigh In

GM has been the topic of several research analyst reports. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reduced their price objective on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

General Motors Profile

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.