Charles Schwab Investment Management Inc. Sells 529,725 Shares of General Motors Company (NYSE:GM)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in General Motors by 5.6%, selling 529,725 shares and owning 8,989,991 shares worth approximately $422.8 million at the end of the first quarter.
• General Motors recently announced a quarterly dividend of $0.15 per share, with a dividend yield of 1.1%, set to be paid on September 18th.
• Analysts have mixed views on General Motors, with an average rating of "Hold" and a price target of $57.53, as various institutions adjust their positions in the stock.

Charles Schwab Investment Management Inc. decreased its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,989,991 shares of the auto manufacturer's stock after selling 529,725 shares during the period. Charles Schwab Investment Management Inc. owned 0.94% of General Motors worth $422,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Measured Risk Portfolios Inc. bought a new stake in General Motors during the 4th quarter worth approximately $27,000. Costello Asset Management INC bought a new stake in shares of General Motors during the first quarter valued at approximately $32,000. Transce3nd LLC bought a new stake in shares of General Motors during the fourth quarter valued at approximately $34,000. North Capital Inc. bought a new position in shares of General Motors during the 1st quarter valued at about $40,000. Finally, Ossiam bought a new position in General Motors during the fourth quarter valued at approximately $44,000. Institutional investors own 92.67% of the company's stock.

General Motors Trading Up 0.1%

GM traded up $0.04 on Tuesday, reaching $54.05. 3,195,747 shares of the company traded hands, compared to its average volume of 11,984,721. The company has a market cap of $51.46 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The firm has a fifty day simple moving average of $51.08 and a two-hundred day simple moving average of $48.78.

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 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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 paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors's dividend payout ratio (DPR) is currently 9.52%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were 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 represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GM shares. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday, May 5th. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Wedbush restated an "outperform" rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, July 23rd. Citigroup lifted their price target on General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler reissued a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors presently has a consensus rating of "Hold" and an average price target of $57.53.

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.