Charles Schwab Investment Management Inc. Reduces Stock Holdings in General Motors (NYSE:GM)

Charles Schwab Investment Management Inc. decreased its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,676,908 shares of the auto manufacturer's stock after selling 27,036 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.88% of General Motors worth $433,913,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer's stock valued at $601,730,000 after purchasing an additional 135,717 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock worth $600,291,000 after buying an additional 1,091,137 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer's stock worth $498,310,000 after buying an additional 421,989 shares during the period. LSV Asset Management increased its stake in shares of General Motors by 2.6% in the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer's stock valued at $411,052,000 after acquiring an additional 223,260 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of General Motors during the 1st quarter valued at $159,750,000. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

GM has been the subject of several research reports. Wedbush raised their target price on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. DZ Bank lowered General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Wells Fargo & Company lifted their price target on shares of General Motors from $33.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a "strong sell" rating in a report on Monday, August 5th. Finally, Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors has an average rating of "Hold" and a consensus price target of $56.92.

General Motors Price Performance

NYSE:GM traded up $2.79 during trading hours on Friday, hitting $58.47. 7,984,468 shares of the company's stock traded hands, compared to its average volume of 14,837,393. General Motors has a 52 week low of $27.93 and a 52 week high of $59.39. The business's fifty day simple moving average is $50.50 and its two-hundred day simple moving average is $47.58. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $64.29 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to analysts' expectations of $44.67 billion. During the same period in the prior year, the business earned $2.28 earnings per share. General Motors's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. General Motors's dividend payout ratio is 5.12%.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company's stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,034,351 shares of company stock worth $56,601,268 in the last quarter. 0.72% of the stock is owned by insiders.

About General Motors

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.