MBB Public Markets I LLC Has $3.73 Million Stock Position in General Motors (NYSE:GM)

MBB Public Markets I LLC lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1,078.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,200 shares of the auto manufacturer’s stock after purchasing an additional 73,394 shares during the quarter. MBB Public Markets I LLC’s holdings in General Motors were worth $3,726,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LifeSteps Financial Inc. bought a new position in General Motors in the first quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the second quarter worth approximately $28,000. Fortitude Family Office LLC lifted its holdings 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 purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in General Motors in the 1st quarter valued at $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in General Motors during the 1st quarter valued at $32,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of GM stock opened at $46.47 on Friday. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The company’s fifty day moving average price is $46.02 and its 200-day moving average price is $45.47. The stock has a market cap of $53.02 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. 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 (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. On average, equities analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors announced that its board has authorized a share buyback program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America reaffirmed a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 24th. Finally, Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $47.00 to $42.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.92.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction 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 completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.