AMF Tjanstepension AB Sells 7,939 Shares of 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 decreased its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 hedge funds and other institutional investors have also modified their holdings of the company. Operose Advisors LLC raised its stake in General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after acquiring an additional 223 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of General Motors by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after buying an additional 226 shares during the period. Hohimer Wealth Management LLC lifted its holdings in shares of General Motors by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after purchasing an additional 230 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in shares of General Motors by 14.4% in the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock worth $86,000 after purchasing an additional 232 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its stake in shares of General Motors by 3.6% during the 1st quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after buying an additional 235 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of NYSE GM traded up $0.22 during trading hours on Tuesday, reaching $54.23. The stock had a trading volume of 3,597,237 shares, compared to its average volume of 11,987,595. The firm has a market cap of $51.64 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.13 and a beta of 1.36. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24. The firm has a 50-day moving average of $51.08 and a 200-day moving average of $48.78. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.06 earnings per share. Equities research analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GM. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. Mizuho raised their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. BNP Paribas raised General Motors to a "strong-buy" rating in a report on Monday, May 5th. Bank of America dropped their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Piper Sandler reiterated a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.53.

Insider Activity

In related news, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

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.