Eqis Capital Management Inc. raised its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 20.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,880 shares of the auto manufacturer’s stock after buying an additional 12,115 shares during the period. Eqis Capital Management Inc.’s holdings in General Motors were worth $2,511,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GM. Alpha Windward LLC raised its stake in shares of General Motors by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock worth $192,000 after buying an additional 21 shares during the last quarter. North Star Investment Management Corp. boosted its position in General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock valued at $184,000 after buying an additional 42 shares during the period. Spectrum Asset Management Inc. NB CA boosted its position in General Motors by 1.5% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 6,850 shares of the auto manufacturer’s stock valued at $242,000 after buying an additional 100 shares during the period. Telemus Capital LLC boosted its position in General Motors by 1.3% in the first quarter. Telemus Capital LLC now owns 8,193 shares of the auto manufacturer’s stock valued at $290,000 after buying an additional 102 shares during the period. Finally, Foster & Motley Inc. boosted its position in General Motors by 1.1% in the first quarter. Foster & Motley Inc. now owns 11,159 shares of the auto manufacturer’s stock valued at $395,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 75.56% of the company’s stock.
Shares of General Motors Company (NYSE GM) opened at 35.75 on Thursday. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55. The company’s 50 day moving average price is $35.48 and its 200 day moving average price is $35.09. The company has a market capitalization of $52.10 billion, a P/E ratio of 6.22 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. During the same quarter in the previous year, the company posted $1.86 EPS. General Motors’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that General Motors Company will post $6.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
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Several equities analysts have recently weighed in on GM shares. Nomura reiterated a “buy” rating and set a $47.00 price objective on shares of General Motors in a report on Tuesday, May 2nd. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Buckingham Research restated a “neutral” rating on shares of General Motors in a research note on Friday, June 2nd. Vetr upgraded General Motors to a “strong-buy” rating in a research note on Friday, June 9th. Finally, Berenberg Bank restated a “sell” rating and issued a $31.00 target price on shares of General Motors in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.26.
In other news, insider Karl-Thomas Neumann sold 234,274 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total value of $8,145,706.98. Following the completion of the sale, the insider now owns 234,274 shares of the company’s stock, valued at approximately $8,145,706.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Daniel Ammann sold 40,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.00, for a total value of $1,440,000.00. Following the completion of the sale, the president now directly owns 235,953 shares of the company’s stock, valued at approximately $8,494,308. The disclosure for this sale can be found here. In the last three months, insiders sold 369,001 shares of company stock valued at $12,827,204. 0.04% of the stock is currently owned by corporate insiders.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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