General Motors (NYSE:GM) Stake Lessened by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,610 shares of the auto manufacturer’s stock after selling 822 shares during the period. Capital Asset Advisory Services LLC’s holdings in General Motors were worth $823,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Highlander Capital Management LLC purchased a new stake in shares of General Motors during the fourth quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of General Motors during the first quarter worth $38,000. Cape Investment Advisory Inc. raised its holdings in shares of General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. Sachetta LLC purchased a new stake in shares of General Motors during the fourth quarter worth $33,000. Finally, Bfsg LLC purchased a new stake in shares of General Motors during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock worth $51,818,111 over the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Up 1.9 %

GM stock opened at $46.45 on Friday. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. The company has a market cap of $52.99 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46. The business’s 50-day simple moving average is $45.60 and its 200 day simple moving average is $41.35. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same period last year, the business earned $2.21 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that General Motors will post 9.43 earnings per share for the current year.

General Motors declared that its board has initiated a share repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

Several research firms have commented on GM. Morgan Stanley increased their target price on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Mizuho increased their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their target price on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday. Barclays increased their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.91.

About General Motors

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.