Sequoia Financial Advisors LLC Sells 26,475 Shares of General Motors (NYSE:GM)

Sequoia Financial Advisors LLC cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 38.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,795 shares of the auto manufacturer’s stock after selling 26,475 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in General Motors were worth $1,895,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado grew its stake in shares of General Motors by 1,213.0% during 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 acquiring an additional 2,035,925 shares during the period. Handelsbanken Fonder AB grew its stake in shares of General Motors by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after acquiring an additional 74,194 shares during the period. US Bancorp DE grew its stake in shares of General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after acquiring an additional 32,331 shares during the period. GSA Capital Partners LLP grew its stake in shares of General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after acquiring an additional 51,571 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of General Motors by 361.1% during the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after acquiring an additional 93,754 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock valued at $51,818,111 in the last quarter. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

NYSE GM opened at $46.52 on Friday. The company has a market cap of $53.08 billion, a P/E ratio of 5.69, a P/E/G ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The business’s 50 day moving average price is $45.77 and its 200-day moving average price is $41.80. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. Sell-side analysts predict that General Motors will post 9.43 earnings per share for the current year.

General Motors declared that its board has initiated a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GM shares. Barclays boosted their price objective on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Sanford C. Bernstein assumed coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. Bank of America reissued a “buy” rating and issued a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Mizuho boosted their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.91.

About General Motors

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.