Cetera Investment Advisers Sells 12,708 Shares of General Motors Company (NYSE:GM)

Key Points

• Cetera Investment Advisers reduced its stake in General Motors by 4.4%, selling 12,708 shares, and now owns 273,958 shares worth approximately $12.88 million.
• Various institutional investors continue to adjust their positions in GM, with institutional ownership reported at 92.67% of the company’s stock.
• General Motors recently announced a quarterly dividend of $0.15 per share, reflecting an annualized yield of 1.15% and a payout ratio of 9.52%.

Cetera Investment Advisers cut its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 273,958 shares of the auto manufacturer's stock after selling 12,708 shares during the quarter. Cetera Investment Advisers' holdings in General Motors were worth $12,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in General Motors in the 4th quarter valued at about $25,404,000. Cassia Capital Partners LLC grew its stake in General Motors by 63.0% in the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after acquiring an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after acquiring an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in General Motors in the 1st quarter valued at about $312,000. Finally, Brown Advisory Inc. grew its stake in General Motors by 55.9% in the 1st quarter. Brown Advisory Inc. now owns 17,651 shares of the auto manufacturer's stock valued at $830,000 after acquiring an additional 6,330 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 1.5%

NYSE:GM traded down $0.82 on Friday, hitting $52.52. 9,539,407 shares of the company's stock traded hands, compared to its average volume of 10,055,104. 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 Company has a 1 year low of $38.96 and a 1 year high of $61.24. The firm has a 50-day moving average price of $50.55 and a 200-day moving average price of $48.81. The company has a market cap of $50.00 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35.

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 earnings per share 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 company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter in the previous year, the business posted $3.06 EPS. The business's revenue for the quarter was down 1.8% on a year-over-year basis. Equities analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on GM. Barclays increased their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Mizuho raised their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research note on Monday, May 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a report on Friday, July 11th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.