New Age Alpha Advisors LLC Sells 30,300 Shares of General Motors (NYSE:GM)

New Age Alpha Advisors LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 23.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the auto manufacturer’s stock after selling 30,300 shares during the quarter. General Motors makes up 2.5% of New Age Alpha Advisors LLC’s portfolio, making the stock its 13th biggest position. New Age Alpha Advisors LLC’s holdings in General Motors were worth $4,646,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its position in shares of General Motors by 34.5% in the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after acquiring an additional 230 shares in the last quarter. Finally, Beech Hill Advisors Inc. raised its position in shares of General Motors by 1.6% in the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company reduced their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Tuesday, September 10th. Royal Bank of Canada lowered their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Finally, Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, six have given 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.com, General Motors has an average rating of “Moderate Buy” and an average price target of $55.27.

Insider Transactions at General Motors

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

General Motors Stock Up 2.4 %

Shares of GM opened at $48.67 on Thursday. The business’s 50 day moving average is $46.26 and its 200 day moving average is $45.15. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a market capitalization of $55.53 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 earnings per share. Research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is 5.87%.

General Motors announced that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.