Swiss National Bank Sells 73,800 Shares of General Motors Company (NYSE:GM)

Key Points

• The Swiss National Bank reduced its holdings in General Motors (GM) by 2.3%, now owning approximately 3.1 million shares valued at about $145.85 million.
• Several institutional investors, including Vanguard Group and Assenagon Asset Management, increased their stakes in GM, indicating confidence in the company's prospects.
• General Motors reported quarterly earnings of $2.53 per share and revenue of $47.12 billion, surpassing analyst expectations while experiencing a year-over-year revenue decline of 1.8%.

Swiss National Bank lessened its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,101,300 shares of the auto manufacturer's stock after selling 73,800 shares during the quarter. Swiss National Bank owned approximately 0.32% of General Motors worth $145,854,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of General Motors during the fourth quarter valued at approximately $25,404,000. Cassia Capital Partners LLC lifted its position in 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 buying an additional 7,221 shares during the period. AustralianSuper Pty Ltd boosted its holdings in shares of General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after buying 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 1st quarter valued at $312,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of General Motors during the 1st quarter valued at $292,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

General Motors Stock Performance

General Motors stock traded up $1.40 during midday trading on Wednesday, hitting $55.56. The stock had a trading volume of 3,784,971 shares, compared to its average volume of 11,954,248. The firm's fifty day moving average is $51.18 and its two-hundred day moving average is $48.82. The company has a market capitalization of $52.90 billion, a PE ratio of 8.85, a P/E/G ratio of 1.14 and a beta of 1.36. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

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, topping the consensus estimate of $2.52 by $0.01. The company had revenue of $47.12 billion during 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%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.06 EPS. On average, research analysts forecast that General Motors Company will post 11.44 EPS for the current 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. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is currently 9.52%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. Citigroup boosted their target price on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Bank of America dropped their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Barclays boosted their target price on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company 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.