Assetmark Inc. Decreases Stake in General Motors Company (NYSE:GM)

Key Points

• Assetmark Inc. reduced its stake in General Motors Company by 15.5%, now holding 70,850 shares valued at $3.33 million after selling 13,025 shares in the first quarter.
• General Motors reported $2.53 earnings per share for the last quarter, slightly above the consensus estimate of $2.52, and will pay a quarterly dividend of $0.15 on September 18th.
• Analysts' ratings for General Motors vary, with a consensus average rating of "Hold" and a target price of $56.35, although some firms have recently upgraded or downgraded their outlooks for the stock.

Assetmark Inc. cut its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 15.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,850 shares of the auto manufacturer's stock after selling 13,025 shares during the quarter. Assetmark Inc.'s holdings in General Motors were worth $3,332,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Measured Risk Portfolios Inc. bought a new stake in General Motors during the 4th quarter worth $27,000. Transce3nd LLC bought a new stake in General Motors during the 4th quarter worth $34,000. Ossiam bought a new stake in General Motors during the 4th quarter worth $44,000. North Capital Inc. bought a new stake in General Motors during the 1st quarter worth $40,000. Finally, Princeton Global Asset Management LLC grew its position in General Motors by 141.0% during the 1st quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock worth $50,000 after acquiring an additional 626 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Down 1.5%

Shares of GM traded down $0.82 on Friday, reaching $52.52. The stock had a trading volume of 9,539,407 shares, compared to its average volume of 10,055,104. The firm has a market capitalization of $50.00 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The company has a 50-day simple moving average of $50.55 and a 200-day simple moving average of $48.81. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24.

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

General Motors Announces Dividend

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

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research report on Monday, April 14th. Wells Fargo & Company upped their target price on General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. Piper Sandler restated a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Citigroup upped their target price on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $56.35.

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.