Banque Cantonale Vaudoise Sells 4,095 Shares of General Motors (NYSE:GM)

Banque Cantonale Vaudoise decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,022 shares of the auto manufacturer’s stock after selling 4,095 shares during the period. Banque Cantonale Vaudoise’s holdings in General Motors were worth $1,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. SJS Investment Consulting Inc. grew its holdings in shares of General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after acquiring an additional 203 shares during the period. Fortitude Family Office LLC grew its holdings 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 acquiring an additional 225 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the period. Institute for Wealth Management LLC. grew its holdings in shares of General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after acquiring an additional 230 shares during the period. Finally, Beech Hill Advisors Inc. grew its holdings in shares of General Motors by 1.6% during the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after acquiring an additional 233 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the firm’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 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 legal filing with the SEC, which is available through this hyperlink. In other news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The disclosure for this sale can be found here. Insiders have sold a total of 391,402 shares of company stock valued at $18,818,536 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Performance

NYSE GM traded up $0.31 on Friday, hitting $49.78. 15,736,896 shares of the company traded hands, compared to its average volume of 12,115,744. The company has a market capitalization of $55.95 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.50 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. The business’s 50 day moving average price is $46.08 and its 200-day moving average price is $44.45. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate 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 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 period in the previous year, the business earned $1.91 earnings per share. Equities analysts expect that General Motors will post 9.94 earnings per share for the current year.

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

General Motors Dividend Announcement

The firm 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 is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors’s dividend payout ratio is presently 5.87%.

Analyst Ratings Changes

Several analysts recently weighed in on GM shares. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada cut their price target on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

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.