Mid Atlantic Financial Management Inc. ADV Cuts Stake in General Motors (NYSE:GM)

Mid Atlantic Financial Management Inc. ADV lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,474 shares of the auto manufacturer’s stock after selling 847 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in General Motors were worth $975,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GM. Nuveen Asset Management LLC boosted its holdings in General Motors by 73.0% in the first quarter. Nuveen Asset Management LLC now owns 12,135,664 shares of the auto manufacturer’s stock worth $697,315,000 after acquiring an additional 5,119,027 shares in the last quarter. Ninety One UK Ltd acquired a new stake in General Motors in the first quarter worth about $223,030,000. Morgan Stanley boosted its holdings in General Motors by 31.7% in the first quarter. Morgan Stanley now owns 11,732,480 shares of the auto manufacturer’s stock worth $674,148,000 after acquiring an additional 2,820,610 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in General Motors by 1,112.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,798,363 shares of the auto manufacturer’s stock worth $160,794,000 after acquiring an additional 2,567,488 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in General Motors in the first quarter worth about $135,031,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

A number of equities research analysts recently commented on the company. Barclays decreased their target price on General Motors from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company decreased their price target on General Motors from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, September 10th. Credit Suisse Group decreased their price target on General Motors from $77.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, August 5th. Tudor Pickering began coverage on General Motors in a report on Tuesday, May 18th. They issued a “buy” rating and a $76.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on General Motors from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, June 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $67.95.

GM opened at $50.74 on Wednesday. The stock’s 50-day moving average price is $53.10 and its 200 day moving average price is $56.38. The company has a current ratio of 1.10, a quick ratio of 0.93 and a debt-to-equity ratio of 1.33. General Motors has a 12-month low of $28.24 and a 12-month high of $64.30. The firm has a market cap of $73.66 billion, a price-to-earnings ratio of 5.87, a PEG ratio of 0.81 and a beta of 1.28.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.08. General Motors had a return on equity of 25.11% and a net margin of 9.13%. The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $29.66 billion. During the same quarter in the prior year, the business earned ($0.50) EPS. General Motors’s revenue was up 103.8% on a year-over-year basis. On average, research analysts forecast that General Motors will post 6.2 earnings per share for the current year.

About General Motors

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

Read More: How Important is Technical Analysis of Stocks

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).

Institutional Ownership by Quarter for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.