General Motors Company (NYSE:GM) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in General Motors by 23.6%, selling 24,547 shares, resulting in a total holding of 79,670 shares valued at approximately $3.75 million.
• The company reported quarterly earnings of $2.53 per share, surpassing estimates, but its revenue of $47.12 billion marked a 1.8% decline year-over-year.
• General Motors has declared a quarterly dividend of $0.15 per share, with an annualized yield of 1.1%, to be paid on September 18th.

Mizuho Securities USA LLC cut its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 23.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,670 shares of the auto manufacturer's stock after selling 24,547 shares during the period. Mizuho Securities USA LLC's holdings in General Motors were worth $3,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GM. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the 4th quarter worth approximately $27,000. Costello Asset Management INC purchased a new position in General Motors in the 1st quarter worth approximately $32,000. Transce3nd LLC acquired a new position in shares of General Motors during the fourth quarter worth $34,000. North Capital Inc. acquired a new stake in shares of General Motors in the first quarter valued at approximately $40,000. Finally, Ossiam purchased a new stake in General Motors during the 4th quarter worth $44,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other General Motors 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 transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. CLSA upgraded shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Industrial Alliance Securities set a $70.00 price target on General Motors in a report on Friday, July 11th. Barclays upped their price target on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Bank of America dropped their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $57.53.

General Motors Price Performance

Shares of NYSE:GM traded up $0.37 during trading on Friday, reaching $56.79. 1,787,249 shares of the company traded hands, compared to its average volume of 11,874,997. The company's 50 day moving average is $51.52 and its two-hundred day moving average is $48.87. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The firm has a market capitalization of $54.07 billion, a PE ratio of 9.01, a PEG ratio of 1.18 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 (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $45.87 billion. During the same period in the previous year, the business earned $3.06 earnings per share. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

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

About General Motors

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.