General Motors (NYSE:GM) Shares Sold by Checchi Capital Advisers LLC

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Checchi Capital Advisers LLC cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,878 shares of the auto manufacturer’s stock after selling 444 shares during the quarter. Checchi Capital Advisers LLC’s holdings in General Motors were worth $445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of General Motors by 0.7% during the second quarter. Vanguard Group Inc. now owns 102,571,908 shares of the auto manufacturer’s stock worth $3,952,096,000 after purchasing an additional 717,703 shares during the period. Northern Trust Corp lifted its holdings in shares of General Motors by 1.3% during the second quarter. Northern Trust Corp now owns 14,406,653 shares of the auto manufacturer’s stock worth $555,088,000 after purchasing an additional 184,349 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of General Motors by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,977,174 shares of the auto manufacturer’s stock worth $538,539,000 after purchasing an additional 99,948 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Motors by 4.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,033,921 shares of the auto manufacturer’s stock worth $271,017,000 after purchasing an additional 324,329 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of General Motors by 1.2% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,281,100 shares of the auto manufacturer’s stock worth $242,011,000 after purchasing an additional 75,014 shares during the period. 76.94% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Matthew Tsien sold 83,067 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.50, for a total value of $3,281,146.50. Following the completion of the transaction, the executive vice president now owns 84,667 shares in the company, valued at $3,344,346.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.51% of the company’s stock.

Several research analysts have issued reports on the company. Citigroup increased their price objective on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays cut their price objective on General Motors from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Buckingham Research cut their price objective on General Motors from $35.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Nomura set a $38.00 price objective on General Motors and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley set a $46.00 price objective on General Motors and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.00.

NYSE:GM opened at $37.19 on Thursday. The stock has a fifty day moving average price of $36.65 and a two-hundred day moving average price of $37.48. The stock has a market capitalization of $55.32 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 0.74 and a beta of 1.40. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.96. General Motors has a 1 year low of $31.46 and a 1 year high of $41.90.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.54. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The firm had revenue of $35.50 billion during the quarter, compared to analysts’ expectations of $35.21 billion. During the same quarter in the prior year, the business posted $1.87 earnings per share. General Motors’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that General Motors will post 4.82 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, December 5th. General Motors’s dividend payout ratio is currently 23.24%.

About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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