Silicon Valley Capital Partners Reduces Holdings in General Motors (NYSE:GM)

Silicon Valley Capital Partners decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,864 shares of the auto manufacturer’s stock after selling 1,450 shares during the quarter. Silicon Valley Capital Partners’ holdings in General Motors were worth $406,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of General Motors during the second quarter worth about $25,000. Accel Wealth Management grew its holdings in shares of General Motors by 1,510.3% during the second quarter. Accel Wealth Management now owns 467 shares of the auto manufacturer’s stock worth $28,000 after purchasing an additional 438 shares during the last quarter. Godsey & Gibb Associates purchased a new position in shares of General Motors during the first quarter worth about $29,000. Stonebridge Capital Advisors LLC purchased a new position in shares of General Motors during the first quarter worth about $29,000. Finally, Aspire Private Capital LLC grew its holdings in shares of General Motors by 484.7% during the first quarter. Aspire Private Capital LLC now owns 497 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 412 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Shares of GM stock traded up $1.55 during midday trading on Wednesday, reaching $50.92. 506,255 shares of the company traded hands, compared to its average volume of 19,592,434. The firm’s 50 day simple moving average is $52.38 and its two-hundred day simple moving average is $56.30. General Motors has a 1-year low of $28.24 and a 1-year high of $64.30. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.10 and a quick ratio of 0.93. The firm has a market cap of $73.92 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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. General Motors had a net margin of 9.13% and a return on equity of 25.11%. The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $29.66 billion. During the same period last year, the firm earned ($0.50) EPS. The company’s revenue for the quarter was up 103.8% on a year-over-year basis. As a group, research analysts anticipate that General Motors will post 6.2 earnings per share for the current fiscal year.

GM has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of General Motors from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, June 4th. Bank of America increased their target price on shares of General Motors from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 16th. Jefferies Financial Group decreased their target price on shares of General Motors from $68.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, August 9th. Zacks Investment Research downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Monday, August 9th. Finally, Wedbush initiated coverage on shares of General Motors in a research note on Thursday, July 8th. They set an “outperform” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $67.95.

General Motors 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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