AMF Tjanstepension AB Trims Stock Position in General Motors Company (NYSE:GM)

Key Points

• AMF Tjanstepension AB reduced its stake in General Motors by 2.7%, now holding shares worth $13.69 million after selling 7,939 shares in the first quarter.
• General Motors reported earnings per share (EPS) of $2.53 for the latest quarter, slightly exceeding analysts' expectations and marking a 1.8% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.15 per share to be paid on September 18th, representing an annualized yield of 1.1%.

AMF Tjanstepension AB reduced its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 291,153 shares of the auto manufacturer's stock after selling 7,939 shares during the quarter. AMF Tjanstepension AB's holdings in General Motors were worth $13,693,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in General Motors during the fourth quarter valued at $25,404,000. Cassia Capital Partners LLC raised its stake in General Motors by 63.0% during the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after buying an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after buying an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC purchased a new position in General Motors during the first quarter valued at $312,000. Finally, Malaga Cove Capital LLC purchased a new position in General Motors during the first quarter valued at $292,000. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GM. Industrial Alliance Securities set a $70.00 price objective on General Motors in a research note on Friday, July 11th. Wedbush reiterated an "outperform" rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 23rd. Piper Sandler restated a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Bank of America decreased their price target on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein set a $36.00 price target on General Motors in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.53.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the sale, the executive vice president directly owned 8,513 shares of the company's stock, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.54% of the company's stock.

General Motors Stock Performance

NYSE:GM traded up $0.57 during mid-day trading on Friday, hitting $53.52. 4,125,133 shares of the company traded hands, compared to its average volume of 10,305,823. The stock's fifty day moving average price is $50.95 and its 200-day moving average price is $48.82. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The firm has a market cap of $50.96 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same period in the previous year, the business earned $3.06 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. Research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors's dividend payout ratio is presently 9.52%.

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.