Forsta AP Fonden Sells 15,200 Shares of General Motors Company (NYSE:GM)

Key Points

• Forsta AP Fonden has reduced its stake in General Motors by 6.7% in the first quarter, owning 211,300 shares valued at approximately $9.9 million.
• General Motors reported earnings of $2.53 per share, slightly exceeding analysts' expectations, with quarterly revenue totaling $47.12 billion, though down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, representing a 1.1% annual dividend yield, with an upcoming payout date set for September 18th.

Forsta AP Fonden reduced its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,300 shares of the auto manufacturer's stock after selling 15,200 shares during the quarter. Forsta AP Fonden's holdings in General Motors were worth $9,937,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GM. Brighton Jones LLC increased its holdings in shares of General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after purchasing an additional 31,755 shares during the period. DRW Securities LLC bought a new position in shares of General Motors during the fourth quarter worth approximately $221,000. Bessemer Group Inc. increased its holdings in shares of General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after purchasing an additional 226 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of General Motors by 5.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 119,754 shares of the auto manufacturer's stock worth $6,372,000 after purchasing an additional 6,558 shares during the period. Finally, Townsquare Capital LLC increased its stake in General Motors by 14.4% in the fourth quarter. Townsquare Capital LLC now owns 82,000 shares of the auto manufacturer's stock valued at $4,368,000 after acquiring an additional 10,307 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on 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 approximately $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

General Motors Trading Up 1.1%

Shares of NYSE:GM traded up $0.62 during mid-day trading on Thursday, reaching $56.20. 3,890,665 shares of the company's stock were exchanged, compared to its average volume of 11,922,816. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 1.15 and a beta of 1.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. The business's fifty day moving average price is $51.34 and its 200-day moving average price is $48.86.

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 (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 analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. General Motors's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.06 earnings per share. On average, research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler reissued a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a research note on Friday, July 11th. Mizuho lifted their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Finally, Barclays lifted 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of "Hold" and an average price target of $57.53.

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.