Oppenheimer Asset Management Inc. Decreases Position in General Motors Company (GM)
Oppenheimer Asset Management Inc. reduced its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 899,478 shares of the auto manufacturer’s stock after selling 3,212 shares during the period. General Motors makes up approximately 0.9% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 13th largest position. Oppenheimer Asset Management Inc. owned about 0.06% of General Motors worth $31,419,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of GM. State of Alaska Department of Revenue purchased a new position in shares of General Motors during the first quarter valued at approximately $103,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of General Motors during the first quarter valued at approximately $106,000. FNY Managed Accounts LLC purchased a new position in shares of General Motors during the first quarter valued at approximately $107,000. SRS Capital Advisors Inc. boosted its position in shares of General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after buying an additional 3,262 shares during the period. Finally, North Star Investment Management Corp. boosted its position in shares of General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock valued at $184,000 after buying an additional 42 shares during the period. 72.20% of the stock is owned by institutional investors.
General Motors Company (NYSE GM) opened at 37.2925 on Friday. General Motors Company has a 12-month low of $30.13 and a 12-month high of $38.55. The company has a market cap of $54.34 billion, a PE ratio of 6.4834 and a beta of 1.45. The company has a 50-day moving average price of $35.58 and a 200 day moving average price of $35.06. General Motors also saw unusually large options trading on Thursday. Traders bought 18,419 call options on the company. This is an increase of approximately 188% compared to the average daily volume of 6,405 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. General Motors’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that General Motors Company will post $6.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.16%. General Motors’s dividend payout ratio (DPR) is currently 26.48%.
COPYRIGHT VIOLATION NOTICE: This news story was posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/oppenheimer-asset-management-inc-decreases-position-in-general-motors-company-gm/1536068.html.
Several brokerages recently commented on GM. Buckingham Research reaffirmed a “hold” rating on shares of General Motors in a research report on Thursday, August 24th. Wolfe Research began coverage on General Motors in a research report on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 target price for the company. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. BidaskClub cut General Motors from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Guggenheim began coverage on General Motors in a research report on Wednesday, June 21st. They issued a “neutral” rating and a $37.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. General Motors currently has an average rating of “Buy” and an average target price of $39.26.
In other General Motors news, Director Jane L. Mendillo purchased 1,440 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $34.86 per share, with a total value of $50,198.40. Following the acquisition, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan S. Batey sold 8,144 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total value of $289,682.08. Following the transaction, the insider now directly owns 66,748 shares of the company’s stock, valued at approximately $2,374,226.36. The disclosure for this sale can be found here. Insiders have sold a total of 330,673 shares of company stock valued at $11,590,746 in the last three months. 0.04% of the stock is owned by insiders.
About General Motors
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.
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors Company (NYSE:GM) (TSE:GMM.U).
Receive News & Ratings for General Motors Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors Company and related companies with Analyst Ratings Network's FREE daily email newsletter.