Wetherby Asset Management Inc. Reduces Position in General Motors Company (NYSE:GM)
Wetherby Asset Management Inc. decreased its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 18,323 shares of the auto manufacturer’s stock after selling 1,004 shares during the period. Wetherby Asset Management Inc.’s holdings in General Motors were worth $640,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in GM. State of Alaska Department of Revenue bought a new stake in shares of General Motors during the first quarter worth $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of General Motors during the first quarter worth about $106,000. FNY Managed Accounts LLC acquired a new stake in shares of General Motors during the first quarter worth about $107,000. SRS Capital Advisors Inc. increased its stake 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 worth $182,000 after buying an additional 3,262 shares during the last quarter. Finally, North Star Investment Management Corp. increased its stake 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 worth $184,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 76.02% of the company’s stock.
General Motors Company (NYSE GM) opened at 34.93 on Friday. The company has a market capitalization of $50.90 billion, a P/E ratio of 6.07 and a beta of 1.45. The stock’s 50 day moving average is $35.37 and its 200-day moving average is $35.14. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the prior year, the firm earned $1.86 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.
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A number of brokerages have recently issued reports on GM. Wolfe Research began coverage on shares of General Motors in a research report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price objective for the company. Zacks Investment Research downgraded shares of General Motors from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. BidaskClub downgraded shares of General Motors from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Guggenheim started coverage on shares of General Motors in a research report on Wednesday, June 21st. They set a “neutral” rating and a $37.00 price objective for the company. Finally, Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price for the company. in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.26.
In other General Motors news, Director Jane L. Mendillo bought 1,520 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average cost of $32.92 per share, with a total value of $50,038.40. Following the purchase, the director now directly owns 3,120 shares in the company, valued at $102,710.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl-Thomas Neumann sold 46,472 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,001 shares of company stock worth $12,827,204. 0.04% of the stock is owned by insiders.
General Motors Company Profile
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.
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