Trading Report: Today: Wedbush Securities Inc. decides to keep it stake in General Motors Co. (GM) to the level of $1,024,000

Today: Wedbush Securities Inc. decides to keep it stake in General Motors Co. (GM) to the level of $1,024,000

Wedbush Securities Inc. increased its stake in General Motors Co. (NYSE:GM) (TSE:GMM.U) by 29.3% during the third quarter, Holdings Channel reports. The institutional investor owned 32,228 shares of the auto manufacturer’s stock after buying an additional 7,295 shares during the period. Wedbush Securities Inc.’s holdings in General Motors were worth $1,024,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of GM. Ngam Advisors L.P. raised its stake in shares of General Motors by 6.2% in the third quarter. Ngam Advisors L.P. now owns 468,897 shares of the auto manufacturer’s stock valued at $14,897,000 after buying an additional 27,293 shares during the period. Sentry Investment Management LLC raised its stake in shares of General Motors by 4.7% in the third quarter. Sentry Investment Management LLC now owns 110,322 shares of the auto manufacturer’s stock valued at $3,505,000 after buying an additional 4,955 shares during the period. Assetmark Inc. raised its stake in shares of General Motors by 344,166.2% in the third quarter. Assetmark Inc. now owns 254,757 shares of the auto manufacturer’s stock valued at $8,094,000 after buying an additional 254,683 shares during the period. Global X Management Co. LLC raised its stake in shares of General Motors by 313.7% in the third quarter. Global X Management Co. LLC now owns 4,257 shares of the auto manufacturer’s stock valued at $135,000 after buying an additional 3,228 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of General Motors by 7.8% in the third quarter. UBS Asset Management Americas Inc. now owns 6,277,533 shares of the auto manufacturer’s stock valued at $199,437,000 after buying an additional 455,633 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

General Motors Co. (NYSE:GM) traded up 0.26% on Monday, reaching $34.34. The company’s stock had a trading volume of 1,305,843 shares. The firm has a 50-day moving average price of $32.24 and a 200 day moving average price of $31.16. General Motors Co. has a 52-week low of $26.69 and a 52-week high of $36.88. The firm has a market capitalization of $52.35 billion, a P/E ratio of 3.92 and a beta of 1.42.

General Motors (NYSE:GM) last issued its earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 EPS for the quarter, topping the consensus estimate of $1.44 by $0.28. The company earned $42.80 billion during the quarter, compared to analyst estimates of $39.11 billion. General Motors had a return on equity of 23.22% and a net margin of 8.58%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. Equities analysts anticipate that General Motors Co. will post $6.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Wednesday, December 7th will be given a $0.38 dividend. The ex-dividend date is Monday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.44%. General Motors’s payout ratio is 17.41%.

GM has been the topic of several research analyst reports. Jefferies Group initiated coverage on shares of General Motors in a report on Tuesday, August 9th. They issued a “hold” rating and a $33.00 price objective on the stock. Seaport Global Securities initiated coverage on shares of General Motors in a research note on Tuesday, August 9th. They set a “buy” rating and a $42.00 price target on the stock. Barclays PLC reiterated an “equal weight” rating and set a $36.00 price target on shares of General Motors in a research note on Thursday, August 11th. Vetr lowered shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 price target on the stock. in a research note on Monday, September 5th. Finally, Morgan Stanley upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $37.00 in a research note on Monday, September 19th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $36.06.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.

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