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 holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,989,991 shares of the auto manufacturer's stock after selling 529,725 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.94% of General Motors worth $422,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC acquired a new position in General Motors during the 4th quarter worth approximately $25,404,000. Cassia Capital Partners LLC lifted its position in General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after acquiring an additional 7,221 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. Sowell Financial Services LLC acquired a new position in General Motors during the 1st quarter worth approximately $312,000. Finally, Malaga Cove Capital LLC acquired a new position in shares of General Motors in the 1st quarter valued at approximately $292,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on GM shares. 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. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their target price on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. CLSA upgraded General Motors to a "moderate buy" rating in a report on Monday, July 7th. Finally, Mizuho boosted their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $57.53.

General Motors Stock Up 1.1%

NYSE:GM traded up $0.57 during trading hours on Friday, hitting $53.52. 4,125,133 shares of the company's stock traded hands, compared to its average volume of 10,305,823. The firm has a market cap of $50.96 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.13 and a beta of 1.36. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. 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 stock's fifty day moving average price is $50.95 and its two-hundred day moving average price is $48.82.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data 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 business had revenue of $47.12 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 EPS. On average, research analysts expect that General Motors Company will post 11.44 earnings per share 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. Investors 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 yield of 1.1%. General Motors's dividend payout ratio is presently 9.52%.

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.