General Motors (GM) Shares Sold by Piedmont Investment Advisors Inc.

Piedmont Investment Advisors Inc. lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 75.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,638 shares of the auto manufacturer’s stock after selling 42,805 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in General Motors were worth $459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in General Motors by 9.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 129,361 shares of the auto manufacturer’s stock worth $4,356,000 after buying an additional 11,139 shares during the period. MML Investors Services LLC lifted its stake in shares of General Motors by 67.4% in the 3rd quarter. MML Investors Services LLC now owns 110,433 shares of the auto manufacturer’s stock valued at $3,718,000 after purchasing an additional 44,449 shares during the period. Vicus Capital lifted its stake in shares of General Motors by 15.8% in the 2nd quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock valued at $1,007,000 after purchasing an additional 3,483 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of General Motors by 21.6% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock valued at $11,868,000 after purchasing an additional 61,723 shares during the period. Finally, Trilogy Capital Inc. lifted its stake in shares of General Motors by 32.3% in the 2nd quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock valued at $850,000 after purchasing an additional 5,265 shares during the period. Institutional investors and hedge funds own 73.82% of the company’s stock.

A number of research firms have recently commented on GM. Morgan Stanley lowered their target price on General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, August 17th. Goldman Sachs Group set a $36.00 target price on General Motors and gave the company a “neutral” rating in a research note on Tuesday, September 11th. Citigroup lowered their target price on General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. ValuEngine cut General Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $38.00 price objective on shares of General Motors in a research note on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.79.

Shares of NYSE:GM opened at $35.93 on Friday. The firm has a market cap of $50.18 billion, a price-to-earnings ratio of 5.43, a P/E/G ratio of 0.67 and a beta of 1.25. General Motors has a 12-month low of $30.56 and a 12-month high of $45.52. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.62. The business had revenue of $35.79 billion during the quarter, compared to analysts’ expectations of $34.85 billion. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. As a group, research analysts anticipate that General Motors will post 6.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s payout ratio is 22.96%.

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General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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