Charles Schwab Investment Management Inc. Sells 157,192 Shares of General Motors (NYSE:GM)

Charles Schwab Investment Management Inc. reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,519,716 shares of the auto manufacturer’s stock after selling 157,192 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in General Motors were worth $507,115,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GM. US Bancorp DE boosted its stake in shares of General Motors by 12.3% during the third quarter. US Bancorp DE now owns 101,299 shares of the auto manufacturer’s stock valued at $4,542,000 after purchasing an additional 11,068 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in General Motors by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock worth $270,000 after buying an additional 1,019 shares during the period. Chicago Partners Investment Group LLC boosted its position in General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after acquiring an additional 1,559 shares in the last quarter. Van ECK Associates Corp raised its position in shares of General Motors by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after acquiring an additional 2,015 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of General Motors by 61.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,303,108 shares of the auto manufacturer’s stock worth $58,431,000 after purchasing an additional 493,486 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $45.39 on Wednesday. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market cap of $45.17 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.67 and a beta of 1.40. The business’s 50 day moving average price is $50.08 and its 200 day moving average price is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has approved a stock buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. General Motors’s payout ratio is currently 7.80%.

Analysts Set New Price Targets

Several research firms have issued reports on GM. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.71.

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.