Avantax Planning Partners Inc. Invests $231,000 in General Motors (NYSE:GM)

Avantax Planning Partners Inc. acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,904 shares of the auto manufacturer’s stock, valued at approximately $231,000.

Several other hedge funds also recently modified their holdings of the company. Cannell Peter B & Co. Inc. increased its stake in General Motors by 32.2% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 714,650 shares of the auto manufacturer’s stock worth $42,286,000 after buying an additional 174,010 shares during the period. Gabelli Funds LLC increased its stake in General Motors by 36.0% during the 1st quarter. Gabelli Funds LLC now owns 221,675 shares of the auto manufacturer’s stock worth $12,737,000 after buying an additional 58,675 shares during the period. Regal Investment Advisors LLC purchased a new stake in General Motors during the 2nd quarter worth approximately $1,087,000. Perigon Wealth Management LLC increased its stake in General Motors by 111.6% during the 1st quarter. Perigon Wealth Management LLC now owns 31,912 shares of the auto manufacturer’s stock worth $1,834,000 after buying an additional 16,830 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in General Motors by 163.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 17,956 shares of the auto manufacturer’s stock worth $1,032,000 after buying an additional 11,136 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

GM stock opened at $50.74 on Wednesday. General Motors has a one year low of $28.24 and a one year high of $64.30. The stock has a market capitalization of $73.66 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. The company has a fifty day moving average of $53.10 and a 200-day moving average of $56.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.08. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $29.66 billion. General Motors had a net margin of 9.13% and a return on equity of 25.11%. The business’s revenue was up 103.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.50) EPS. Equities analysts forecast that General Motors will post 6.2 earnings per share for the current fiscal year.

GM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Monday, August 9th. Wedbush initiated coverage on shares of General Motors in a research report on Thursday, July 8th. They issued an “outperform” rating and a $85.00 price objective on the stock. Bank of America increased their price objective on shares of General Motors from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, July 16th. Argus increased their price objective on shares of General Motors from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their target price on shares of General Motors from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, June 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $67.95.

General Motors Company Profile

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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

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