Ameritas Advisory Services LLC Sells 8,793 Shares of General Motors (NYSE:GM)

Ameritas Advisory Services LLC trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 47.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,831 shares of the auto manufacturer’s stock after selling 8,793 shares during the quarter. Ameritas Advisory Services LLC’s holdings in General Motors were worth $457,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new stake in General Motors in the 1st quarter valued at $25,000. Fortitude Family Office LLC grew its position in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Cape Investment Advisory Inc. raised its holdings in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of General Motors during the 1st quarter valued at $30,000. Finally, YHB Investment Advisors Inc. acquired a new position in General Motors in the first quarter valued at about $32,000. 92.67% of the stock is owned by institutional investors.

Insider Activity

In other news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the sale, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, President Mark L. Reuss sold 35,142 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $5,880,870.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders sold a total of 391,402 shares of company stock worth $18,818,536 in the last three months. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Bank of America reiterated a “buy” rating and issued a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors currently has a consensus rating of “Moderate Buy” and an average price target of $55.17.

General Motors Trading Down 0.5 %

General Motors stock traded down $0.23 during mid-day trading on Friday, hitting $49.24. 8,676,010 shares of the stock were exchanged, compared to its average volume of 15,455,293. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 0.44 and a beta of 1.43. The firm’s fifty day simple moving average is $46.01 and its two-hundred day simple moving average is $44.30. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the prior year, the company earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that General Motors will post 9.94 EPS for the current year.

General Motors declared that its board has approved a stock repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors Profile

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.