Intelligence Driven Advisers LLC Makes New $273,000 Investment in General Motors (NYSE:GM)

Intelligence Driven Advisers LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 5,878 shares of the auto manufacturer’s stock, valued at approximately $273,000.

A number of other institutional investors have also recently bought and sold shares of GM. Public Employees Retirement Association of Colorado boosted its stake in shares of General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. US Bancorp DE boosted its stake in shares of General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after purchasing an additional 32,331 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of General Motors by 317.6% in the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after purchasing an additional 51,571 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares in the last quarter. Finally, M&G Investment Management Ltd. boosted its stake in shares of General Motors by 22.0% in the 4th quarter. M&G Investment Management Ltd. now owns 275,615 shares of the auto manufacturer’s stock valued at $9,922,000 after purchasing an additional 49,729 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Down 1.8 %

Shares of GM stock traded down $0.89 on Friday, reaching $47.14. The company had a trading volume of 16,080,931 shares, compared to its average volume of 15,451,599. 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 company has a 50-day moving average of $46.27 and a 200-day moving average of $44.75. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The stock has a market cap of $53.78 billion, a PE ratio of 5.76, a PEG ratio of 0.50 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same period in the previous year, the firm earned $1.91 EPS. General Motors’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post 9.94 earnings per share for the current year.

General Motors Dividend Announcement

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

General Motors announced that its board has authorized a share repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on GM. Morgan Stanley downgraded shares of General Motors from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. Wolfe Research initiated coverage on General Motors in a report on Thursday. They issued a “peer perform” rating for the company. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. UBS Group lifted their price target on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada cut their price target on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors has an average rating of “Moderate Buy” and an average price target of $55.17.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on 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 owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on 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 owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Mark L. Reuss sold 35,142 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $46.34, for a total value of $1,628,480.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $5,880,870.38. The disclosure for this sale can be found here. Insiders sold a total of 376,544 shares of company stock valued at $18,134,919 in the last quarter. 0.72% of the stock is currently owned by 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.