Alliancebernstein L.P. Cuts Holdings in General Motors (GM)

Alliancebernstein L.P. trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,187,886 shares of the auto manufacturer’s stock after selling 170,077 shares during the quarter. Alliancebernstein L.P. owned approximately 0.16% of General Motors worth $73,666,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Sei Investments Co. boosted its position in General Motors by 10.2% during the 3rd quarter. Sei Investments Co. now owns 1,793,142 shares of the auto manufacturer’s stock valued at $60,371,000 after acquiring an additional 165,267 shares in the last quarter. Norinchukin Bank The boosted its position in shares of General Motors by 12.8% in the 3rd quarter. Norinchukin Bank The now owns 237,240 shares of the auto manufacturer’s stock worth $7,988,000 after purchasing an additional 26,842 shares in the last quarter. Opus Investment Management Inc. boosted its position in shares of General Motors by 18.0% in the 3rd quarter. Opus Investment Management Inc. now owns 88,500 shares of the auto manufacturer’s stock worth $2,980,000 after purchasing an additional 13,500 shares in the last quarter. Zeke Capital Advisors LLC boosted its position in shares of General Motors by 16.9% in the 3rd quarter. Zeke Capital Advisors LLC now owns 35,362 shares of the auto manufacturer’s stock worth $1,191,000 after purchasing an additional 5,124 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of General Motors by 5.9% in the 3rd quarter. Commonwealth Bank of Australia now owns 622,223 shares of the auto manufacturer’s stock worth $20,944,000 after purchasing an additional 34,600 shares in the last quarter. 73.82% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 5th. ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Buckingham Research dropped their price target on General Motors from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 3rd. Citigroup boosted their price target on General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Finally, Nomura dropped coverage on General Motors in a research report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.79.

GM stock opened at $35.93 on Friday. The company has a market capitalization of $50.18 billion, a P/E ratio of 5.43, a price-to-earnings-growth 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 current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.62. The business had revenue of $35.79 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS. As a group, analysts forecast that General Motors will post 6.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 annualized dividend and a yield of 4.23%. General Motors’s dividend payout ratio (DPR) is presently 22.96%.

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About General Motors

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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