Boston Private Wealth LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 29.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,392 shares of the auto manufacturer’s stock after selling 12,901 shares during the quarter. Boston Private Wealth LLC’s holdings in General Motors were worth $1,139,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Next Capital Management LLC acquired a new stake in General Motors in the second quarter worth about $25,000. Advisors Preferred LLC acquired a new position in shares of General Motors in the 2nd quarter valued at about $26,000. Trust Co. of Vermont increased its holdings in shares of General Motors by 101.2% in the 2nd quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 335 shares during the period. Quest Capital Management Inc. ADV acquired a new position in shares of General Motors in the 3rd quarter valued at about $26,000. Finally, Webster Bank N. A. increased its holdings in shares of General Motors by 253.5% in the 2nd quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 502 shares during the period. 77.03% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on GM shares. Citigroup upped their target price on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays reduced their price objective on General Motors from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley set a $46.00 price objective on General Motors and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, UBS Group increased their price objective on General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.00.
In related news, EVP Matthew Tsien sold 16,933 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $39.50, for a total value of $668,853.50. Following the transaction, the executive vice president now owns 18,533 shares in the company, valued at $732,053.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.
Shares of NYSE:GM traded down $0.05 during midday trading on Friday, reaching $38.45. The company’s stock had a trading volume of 2,294,347 shares, compared to its average volume of 8,920,302. General Motors has a fifty-two week low of $31.46 and a fifty-two week high of $41.90. The company has a market capitalization of $54.62 billion, a P/E ratio of 5.88, a P/E/G ratio of 0.73 and a beta of 1.40. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.96 and a quick ratio of 0.82. The business’s fifty day simple moving average is $36.57 and its 200-day simple moving average is $37.52.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.54. The company had revenue of $35.50 billion during the quarter, compared to analyst estimates of $35.21 billion. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $1.87 earnings per share. On average, analysts forecast that General Motors will post 4.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, December 5th. General Motors’s dividend payout ratio is 23.24%.
About General Motors
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.
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