nVerses Capital LLC Invests $381,000 in General Motors (NYSE:GM)

nVerses Capital LLC bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,500 shares of the auto manufacturer’s stock, valued at approximately $381,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. ACR Alpine Capital Research LLC boosted its position in shares of General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after buying an additional 492,693 shares during the period. BDF Gestion acquired a new position in shares of General Motors in the second quarter worth about $2,886,000. Atomi Financial Group Inc. acquired a new position in shares of General Motors in the first quarter worth about $244,000. Cetera Investment Advisers lifted its stake in shares of General Motors by 98.5% in the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after acquiring an additional 164,083 shares in the last quarter. Finally, Susquehanna International Group Ltd. acquired a new position in shares of General Motors in the second quarter worth about $636,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.8 %

Shares of General Motors stock opened at $49.38 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The business’s 50 day simple moving average is $46.89 and its 200-day simple moving average is $45.90. The stock has a market capitalization of $56.34 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same period in the prior year, the company posted $1.91 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GM shares. JPMorgan Chase & Co. boosted their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. Finally, Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus target price of $55.35.

Insider Buying and Selling

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Company 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.