General Motors (NYSE:GM) Shares Sold by Marshall Wace LLP

Marshall Wace LLP cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 27.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,475,997 shares of the auto manufacturer’s stock after selling 934,658 shares during the quarter. Marshall Wace LLP owned about 0.22% of General Motors worth $115,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LifeSteps Financial Inc. purchased a new stake in shares of General Motors during the 1st quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter worth $28,000. Fortitude Family Office LLC grew 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 valued at $29,000 after purchasing an additional 225 shares during the last quarter. Cape Investment Advisory Inc. increased its position in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of General Motors in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Sanford C. Bernstein cut General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a report on Monday. Finally, Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus target price of $55.17.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the company’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 of the company’s stock, valued at $417,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of NYSE:GM opened at $48.05 on Tuesday. The business’s 50-day simple moving average is $46.25 and its 200 day simple moving average is $45.36. The company has a market cap of $54.82 billion, a P/E ratio of 5.87, a PEG ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. 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 announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 earnings per share. On average, sell-side analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

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