Oppenheimer & Co. Inc. Sells 23,470 Shares of General Motors (NYSE:GM)

Oppenheimer & Co. Inc. cut its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 35.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,397 shares of the auto manufacturer’s stock after selling 23,470 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in General Motors were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GM. VisionPoint Advisory Group LLC bought a new position in shares of General Motors during the 2nd quarter valued at $25,000. SouthState Corp boosted its position in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 485 shares during the period. Penserra Capital Management LLC boosted its position in General Motors by 85.8% during the 1st 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 period. JNBA Financial Advisors boosted its position in General Motors by 149.1% during the 2nd quarter. JNBA Financial Advisors now owns 730 shares of the auto manufacturer’s stock valued at $28,000 after buying an additional 437 shares during the period. Finally, Northwest Capital Management Inc purchased a new stake in General Motors during the 2nd quarter valued at $31,000. Institutional investors own 79.62% of the company’s stock.

General Motors Price Performance

NYSE:GM opened at $38.04 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market cap of $43.91 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 0.46 and a beta of 1.49. The company has a 50 day moving average price of $35.41 and a 200-day moving average price of $33.16. General Motors has a 1-year low of $26.30 and a 1-year high of $43.63.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The company had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.12 EPS. Equities research analysts forecast that General Motors will post 9.05 EPS for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Friday, March 1st will be given a $0.12 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.26%. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio is presently 4.92%.

Analyst Ratings Changes

Several brokerages have weighed in on GM. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Thursday, January 4th. Morgan Stanley dropped their target price on shares of General Motors from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Barclays raised their target price on shares of General Motors from $37.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of General Motors in a research report on Wednesday, October 25th. Finally, UBS Group dropped their target price on shares of General Motors from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.55.

Check Out Our Latest Stock Report on GM

General Motors Profile

(Free Report)

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.

Recommended Stories

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

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.