General Motors (NYSE:GM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,222,342 shares of the auto manufacturer’s stock after selling 41,932 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of General Motors worth $103,250,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. LifeSteps Financial Inc. purchased a new stake in General Motors during the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its position in General Motors by 56.1% during the second 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 position in 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 buying an additional 359 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in General Motors during the first quarter worth $30,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 1.2 %

NYSE GM opened at $46.87 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a market cap of $53.48 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 0.52 and a beta of 1.43. The firm has a 50 day simple moving average of $46.20 and a 200-day simple moving average of $45.08. General Motors has a one year low of $26.30 and a one year high of $50.50.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.02%. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors announced that its board has authorized a stock 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 reacquire 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GM shares. Royal Bank of Canada reduced their price target on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. UBS Group boosted their target price on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research report on Monday, August 5th. Finally, Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.27.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, 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. 0.72% of the stock is owned by corporate insiders.

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.