Veritable L.P. Trims Stock Holdings in General Motors (NYSE:GM)

Veritable L.P. lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,639 shares of the auto manufacturer’s stock after selling 1,799 shares during the quarter. Veritable L.P.’s holdings in General Motors were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Venturi Wealth Management LLC purchased a new stake in General Motors in the first quarter valued at approximately $25,000. Penserra Capital Management LLC lifted 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 buying an additional 283 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in General Motors in the second quarter valued at approximately $28,000. JNBA Financial Advisors raised its stake in shares of General Motors by 149.1% during the second quarter. JNBA Financial Advisors now owns 730 shares of the auto manufacturer’s stock worth $28,000 after purchasing an additional 437 shares during the last quarter. Finally, Northwest Capital Management Inc purchased a new stake in shares of General Motors during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 79.62% of the company’s stock.

General Motors Stock Down 0.2 %

General Motors stock opened at $28.14 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.96 and a current ratio of 1.14. The firm has a market capitalization of $38.53 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 0.38 and a beta of 1.48. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $43.63. The stock’s fifty day moving average is $30.55 and its two-hundred day moving average is $33.83.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.41. The company had revenue of $44.13 billion for the quarter, compared to analyst estimates of $42.48 billion. General Motors had a return on equity of 16.01% and a net margin of 5.83%. General Motors’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 earnings per share. Analysts predict that General Motors will post 7.1 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, December 1st will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.36 annualized dividend and a dividend yield of 1.28%. General Motors’s dividend payout ratio is currently 5.06%.

Wall Street Analysts Forecast Growth

GM has been the subject of several analyst reports. StockNews.com initiated coverage on General Motors in a research note on Thursday, October 5th. They set a “hold” rating for the company. TheStreet cut General Motors from a “b-” rating to a “c+” rating in a research note on Tuesday, October 3rd. The Goldman Sachs Group cut their price target on General Motors from $47.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Royal Bank of Canada upped their price target on General Motors from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley cut their price target on General Motors from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.67.

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.