General Motors (NYSE:GM) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,414 shares of the auto manufacturer’s stock after selling 623 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in General Motors were worth $856,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. LifeSteps Financial Inc. acquired a new position in shares of General Motors during the 1st quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the 2nd quarter worth $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% during 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 during the last quarter. Cape Investment Advisory Inc. raised its stake in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new position 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 Buying and Selling at General Motors

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the company’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 transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred 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 directly owns 10,356 shares in the company, valued at $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Down 0.1 %

NYSE GM opened at $48.62 on Friday. The stock has a market cap of $55.47 billion, a PE ratio of 5.94, a P/E/G ratio of 0.52 and a beta of 1.43. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The business has a 50 day moving average price of $46.28 and a two-hundred day moving average price of $45.17. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

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 for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 EPS. As a group, sell-side analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued 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 was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

Wall Street Analysts Forecast Growth

GM has been the subject of several analyst reports. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Wells Fargo & Company cut their target price on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.27.

General Motors Company 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.