NewEdge Advisors LLC Has $1.53 Million Stock Holdings in General Motors (NYSE:GM)

NewEdge Advisors LLC boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 51.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,915 shares of the auto manufacturer’s stock after buying an additional 11,164 shares during the period. NewEdge Advisors LLC’s holdings in General Motors were worth $1,529,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its holdings in shares of General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares in the last quarter. Fortitude Family Office LLC lifted its stake in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after acquiring an additional 230 shares during the last quarter. Finally, Beech Hill Advisors Inc. grew its stake in shares of General Motors by 1.6% during the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after acquiring an additional 233 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought 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 trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 1.6 %

General Motors stock opened at $45.68 on Friday. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The stock has a market cap of $52.12 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.56 and a beta of 1.42. The company’s 50-day moving average price is $45.91 and its two-hundred day moving average price is $45.67. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.91 EPS. As a group, analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is presently 5.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GM. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price on the stock. in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $55.47.

General Motors 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.