Wetherby Asset Management Inc. Sells 3,147 Shares of General Motors (NYSE:GM)

Wetherby Asset Management Inc. cut its position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,569 shares of the auto manufacturer’s stock after selling 3,147 shares during the quarter. Wetherby Asset Management Inc.’s holdings in General Motors were worth $1,774,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new position in General Motors in the first quarter valued at approximately $26,000. Penserra Capital Management LLC grew its stake in General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 283 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in General Motors by 220.2% in the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 414 shares in the last quarter. Tyler Stone Wealth Management bought a new position in General Motors in the fourth quarter valued at approximately $34,000. Finally, Tcwp LLC bought a new position in General Motors in the first quarter valued at approximately $34,000. 79.59% of the stock is currently owned by institutional investors.

General Motors Price Performance

General Motors stock opened at $41.29 on Monday. General Motors has a one year low of $30.33 and a one year high of $67.21. The stock’s fifty day moving average price is $36.44 and its two-hundred day moving average price is $38.23. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.15 and a quick ratio of 0.93. The firm has a market cap of $60.20 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 0.62 and a beta of 1.23.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 26th. The auto manufacturer reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.42). General Motors had a net margin of 6.66% and a return on equity of 13.82%. The business had revenue of $35.76 billion during the quarter, compared to the consensus estimate of $34.35 billion. During the same quarter in the previous year, the business posted $1.97 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts expect that General Motors will post 6.79 EPS for the current fiscal year.

General Motors Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. General Motors’s payout ratio is 6.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GM. TheStreet cut General Motors from a “b-” rating to a “c+” rating in a research report on Friday, May 20th. Bank of America cut their price objective on General Motors from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Daiwa Capital Markets cut their price objective on General Motors to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Wolfe Research raised their price objective on General Motors from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, September 6th. Finally, Morgan Stanley cut their price objective on General Motors from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and a consensus price target of $55.78.

About General Motors

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General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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