Advisors Capital Management LLC raised its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.8% during the second quarter, Holdings Channel reports. The institutional investor owned 512,714 shares of the auto manufacturer’s stock after buying an additional 13,862 shares during the period. General Motors makes up approximately 1.5% of Advisors Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Advisors Capital Management LLC’s holdings in General Motors were worth $17,909,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC raised its position in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after buying an additional 3,955,426 shares in the last quarter. Prudential Financial Inc. raised its position in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares during the period. Vanguard Group Inc. raised its position in shares of General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares during the period. Alliancebernstein L.P. raised its position in shares of General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares during the period. Finally, State Street Corp raised its position in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares during the period. 73.50% of the stock is currently owned by institutional investors.
Shares of General Motors Company (GM) traded up 0.08% during mid-day trading on Monday, hitting $36.38. The stock had a trading volume of 10,620,778 shares. The stock has a 50-day moving average price of $33.94 and a 200 day moving average price of $35.33. The stock has a market cap of $54.90 billion, a P/E ratio of 5.63 and a beta of 1.45. General Motors Company has a 52 week low of $29.82 and a 52 week high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Friday, April 28th. The auto manufacturer reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.25. The business had revenue of $41.20 billion during the quarter, compared to analyst estimates of $37.38 billion. General Motors had a net margin of 5.92% and a return on equity of 22.82%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, equities analysts forecast that General Motors Company will post $6.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Wednesday, June 7th. General Motors’s dividend payout ratio is currently 23.53%.
Several research analysts recently weighed in on GM shares. Tigress Financial reaffirmed a “strong-buy” rating on shares of General Motors in a research report on Thursday, March 30th. Evercore ISI reaffirmed an “in-line” rating and issued a $40.00 target price on shares of General Motors in a research report on Thursday, March 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $36.00 target price on shares of General Motors in a research report on Friday, April 7th. UBS AG reaffirmed a “buy” rating and issued a $40.00 target price (up from $38.00) on shares of General Motors in a research report on Friday, April 14th. Finally, Nomura reaffirmed a “buy” rating and issued a $47.00 target price on shares of General Motors in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $39.50.
In other news, insider John J. Quattrone sold 15,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider now owns 42,623 shares of the company’s stock, valued at $1,491,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane L. Mendillo acquired 1,520 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $32.92 per share, with a total value of $50,038.40. Following the transaction, the director now directly owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Insiders have sold 139,158 shares of company stock valued at $4,643,312 in the last ninety days. 0.04% of the stock is owned by company insiders.
General Motors Company Profile
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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