AdvisorNet Financial Inc Boosts Stake in General Motors (NYSE:GM)

AdvisorNet Financial Inc raised its holdings in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,688 shares of the auto manufacturer’s stock after buying an additional 436 shares during the quarter. AdvisorNet Financial Inc’s holdings in General Motors were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Heartland Bank & Trust Co lifted its stake in General Motors by 5.6% during the first quarter. Heartland Bank & Trust Co now owns 8,101 shares of the auto manufacturer’s stock worth $354,000 after purchasing an additional 429 shares during the last quarter. Banque Pictet & Cie SA lifted its stake in General Motors by 8.3% during the first quarter. Banque Pictet & Cie SA now owns 22,991 shares of the auto manufacturer’s stock worth $1,006,000 after purchasing an additional 1,767 shares during the last quarter. Cape ANN Savings Bank bought a new stake in General Motors during the first quarter worth about $479,000. Vanguard Group Inc. lifted its stake in General Motors by 2.4% during the first quarter. Vanguard Group Inc. now owns 105,196,379 shares of the auto manufacturer’s stock worth $4,601,291,000 after purchasing an additional 2,472,288 shares during the last quarter. Finally, Bartlett & Co. LLC lifted its stake in General Motors by 338.7% during the fourth quarter. Bartlett & Co. LLC now owns 4,387 shares of the auto manufacturer’s stock worth $257,000 after purchasing an additional 3,387 shares during the last quarter. 79.59% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Up 3.6 %

GM stock opened at $41.39 on Tuesday. General Motors has a fifty-two week low of $30.33 and a fifty-two week high of $67.21. The business’s 50 day moving average price is $37.30 and its two-hundred day moving average price is $38.04. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.93 and a current ratio of 1.15. The company has a market capitalization of $60.35 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 0.60 and a beta of 1.23.

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

General Motors Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on GM. Wells Fargo & Company lowered their target price on General Motors from $33.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, July 11th. Barclays reissued a “buy” rating and issued a $52.00 target price on shares of General Motors in a research note on Friday, July 1st. Morgan Stanley lowered their target price on General Motors from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Daiwa Capital Markets lowered their target price on General Motors to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Bank of America lowered their target price on General Motors from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, September 9th. One investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

General Motors Company Profile

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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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