Founders Financial Securities LLC Sells 296 Shares of General Motors (NYSE:GM)

Founders Financial Securities LLC lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.5% in the second quarter, Holdings Channel reports. The firm owned 19,318 shares of the auto manufacturer’s stock after selling 296 shares during the period. Founders Financial Securities LLC’s holdings in General Motors were worth $898,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in shares of General Motors during the first quarter worth about $25,000. Fortitude Family Office LLC lifted its stake in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. bought a new position in General Motors in the first quarter valued at approximately $30,000. YHB Investment Advisors Inc. acquired a new stake in shares of General Motors during the first quarter worth $32,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors in the 2nd quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a report on Wednesday, July 24th. UBS Group upped their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Bank of America restated a “buy” rating and issued a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

General Motors Stock Up 0.1 %

Shares of GM opened at $48.45 on Thursday. The firm has a 50 day simple moving average of $46.21 and a two-hundred day simple moving average of $44.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a one year low of $26.30 and a one year high of $50.50. The company has a market cap of $54.45 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.50 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. Research analysts forecast that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors declared that its Board of Directors has authorized a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Insiders sold a total of 391,402 shares of company stock valued at $18,818,536 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Company Profile

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.