General Motors (NYSE:GM) Stock Position Lessened by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,481 shares of the auto manufacturer’s stock after selling 13,901 shares during the quarter. Edgestream Partners L.P.’s holdings in General Motors were worth $5,412,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GM. LifeSteps Financial Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the 2nd quarter valued at $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Cape Investment Advisory Inc. lifted its holdings in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in General Motors in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In related news, 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 acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

General Motors Trading Up 1.2 %

Shares of NYSE:GM opened at $46.87 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $53.48 billion, a PE ratio of 5.73, a P/E/G ratio of 0.52 and a beta of 1.43. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The firm has a fifty day moving average price of $46.20 and a 200 day moving average price of $45.08.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results 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. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 EPS. Analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued 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 dividend yield of 1.02%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GM. UBS Group increased their price target on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.27.

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.