Ausdal Financial Partners Inc. purchased a new position in General Motors Co. (NYSE:GM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,712 shares of the auto manufacturer’s stock, valued at approximately $247,000.
Other large investors have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new stake in shares of General Motors during the first quarter worth approximately $56,200,000. National Pension Service boosted its stake in General Motors by 4.1% in the first quarter. National Pension Service now owns 823,356 shares of the auto manufacturer’s stock valued at $25,878,000 after buying an additional 32,253 shares in the last quarter. Natixis boosted its stake in General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Acadian Asset Management LLC boosted its stake in General Motors by 6.5% in the second quarter. Acadian Asset Management LLC now owns 28,095 shares of the auto manufacturer’s stock valued at $795,000 after buying an additional 1,722 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its stake in General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock valued at $182,903,000 after buying an additional 3,615,099 shares in the last quarter. Institutional investors and hedge funds own 70.43% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded down 0.98% during midday trading on Tuesday, reaching $31.25. 4,615,990 shares of the company’s stock were exchanged. General Motors Co. has a 1-year low of $26.69 and a 1-year high of $36.88. The company has a market capitalization of $48.81 billion, a PE ratio of 4.00 and a beta of 1.65. The firm has a 50-day moving average of $31.76 and a 200-day moving average of $30.89.
General Motors (NYSE:GM) last issued its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. General Motors’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. Equities analysts expect that General Motors Co. will post $5.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.82%. General Motors’s payout ratio is 19.46%.
A number of research analysts have weighed in on the stock. Vetr cut shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $33.03 price target on the stock. in a research report on Monday, June 20th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $43.00 price target on shares of General Motors in a research report on Tuesday, July 26th. Zacks Investment Research cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. Barclays PLC reaffirmed an “equal weight” rating and set a $36.00 price target on shares of General Motors in a research report on Tuesday, July 19th. Finally, Seaport Global Securities assumed coverage on shares of General Motors in a research report on Tuesday, August 9th. They set a “buy” rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.67.
In related news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the transaction, the vice president now directly owns 27,477 shares in the company, valued at $877,615.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jane L. Mendillo bought 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, with a total value of $49,616.00. Following the completion of the purchase, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $49,616. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors Co. (NYSE:GM).
Receive News & Ratings for General Motors Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors Co. and related companies with MarketBeat.com's FREE daily email newsletter.