Choreo LLC Sells 74,677 Shares of General Motors Company (NYSE:GM)

Choreo LLC reduced its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 70.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,753 shares of the auto manufacturer's stock after selling 74,677 shares during the quarter. Choreo LLC's holdings in General Motors were worth $1,446,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new stake in shares of General Motors during the fourth quarter valued at approximately $25,404,000. Cassia Capital Partners LLC increased its holdings in shares of General Motors by 63.0% during the first 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 in the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of General Motors by 38.9% during the first 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 in the last quarter. Sowell Financial Services LLC bought a new stake in shares of General Motors during the first quarter valued at approximately $312,000. Finally, OMNI 360 Wealth Inc. bought a new stake in shares of General Motors during the first quarter valued at approximately $363,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

NYSE GM traded up $0.32 during trading on Monday, hitting $53.72. 2,063,027 shares of the company's stock traded hands, compared to its average volume of 12,314,570. The stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.13 and a beta of 1.32. General Motors Company has a 12-month low of $38.96 and a 12-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 business has a 50 day moving average of $50.23 and a 200-day moving average of $48.70.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data 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 business had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 earnings per share. As a group, equities research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders 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 yield of 1.12%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GM shares. UBS Group boosted their price objective on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Citigroup lifted 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. Benchmark started coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 target price on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Finally, Bank of America cut their target price on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Four equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.35.

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.