Schwab Charles Investment Management Inc. Increases Position in General Motors Company (NYSE:GM)
Schwab Charles Investment Management Inc. boosted its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,191,855 shares of the auto manufacturer’s stock after buying an additional 331,832 shares during the period. Schwab Charles Investment Management Inc.’s holdings in General Motors were worth $181,352,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Clearbridge Investments LLC raised its position in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares in the last quarter. Prudential Financial Inc. raised its position in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares in the last quarter. Vanguard Group Inc. raised its position in shares of General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares in the last quarter. Finally, State Street Corp raised its position in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares in the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.
Shares of General Motors Company (NYSE GM) opened at 34.88 on Friday. The company’s 50 day moving average price is $35.35 and its 200-day moving average price is $35.16. The firm has a market cap of $50.83 billion, a P/E ratio of 6.06 and a beta of 1.45. General Motors Company has a 12-month low of $30.13 and a 12-month high of $38.55. General Motors also was the recipient of unusually large options trading on Tuesday. Stock traders purchased 16,324 put options on the company. This represents an increase of approximately 237% compared to the average volume of 4,840 put options.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter last year, the business posted $1.86 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that General Motors Company will post $6.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.36%. General Motors’s payout ratio is 26.48%.
Several equities analysts have recently commented on GM shares. Nomura restated a “buy” rating and set a $47.00 price target on shares of General Motors in a research note on Tuesday, May 2nd. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. BMO Capital Markets reiterated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. CLSA assumed coverage on General Motors in a research note on Wednesday, June 21st. They issued a “hold” rating and a $37.00 target price on the stock. Finally, Morgan Stanley assumed coverage on General Motors in a research note on Wednesday, June 28th. They issued an “overweight” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $39.26.
In other General Motors news, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the completion of the sale, the vice president now directly owns 26,100 shares of the company’s stock, valued at approximately $934,119. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl-Thomas Neumann sold 234,274 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total value of $8,145,706.98. Following the sale, the insider now directly owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The disclosure for this sale can be found here. Insiders have sold a total of 369,001 shares of company stock valued at $12,827,204 over the last ninety days. 0.04% of the stock is owned by insiders.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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