Intercontinental Wealth Advisors LLC Makes New $313,000 Investment in General Motors (NYSE:GM)

Intercontinental Wealth Advisors LLC bought a new position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,153 shares of the auto manufacturer’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. CWM LLC purchased a new stake in shares of General Motors during the fourth quarter worth about $903,000. FDx Advisors Inc. grew its holdings in General Motors by 18.8% in the fourth quarter. FDx Advisors Inc. now owns 19,966 shares of the auto manufacturer’s stock valued at $1,171,000 after purchasing an additional 3,158 shares during the period. RFG Advisory LLC purchased a new stake in General Motors in the fourth quarter valued at approximately $215,000. Pinnacle Associates Ltd. grew its holdings in General Motors by 2.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 73,962 shares of the auto manufacturer’s stock valued at $4,336,000 after purchasing an additional 2,061 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in General Motors by 5.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,167,272 shares of the auto manufacturer’s stock valued at $244,327,000 after purchasing an additional 210,600 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.

General Motors Stock Down 0.5 %

General Motors stock opened at $36.06 on Friday. The company has a 50-day simple moving average of $34.39 and a 200-day simple moving average of $40.46. The firm has a market capitalization of $52.58 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.53 and a beta of 1.27. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.93 and a current ratio of 1.15. General Motors has a one year low of $30.33 and a one year high of $67.21.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its earnings results on Tuesday, July 26th. The auto manufacturer reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.42). The company had revenue of $35.76 billion during the quarter, compared to the consensus estimate of $34.35 billion. General Motors had a net margin of 6.66% and a return on equity of 13.82%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. As a group, equities analysts expect that General Motors will post 6.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GM shares. Exane BNP Paribas started coverage on shares of General Motors in a research note on Monday, April 11th. They set an “outperform” rating for the company. Berenberg Bank started coverage on shares of General Motors in a research note on Tuesday, May 10th. They set a “buy” rating and a $55.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of General Motors from $59.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Citigroup decreased their price objective on shares of General Motors from $98.00 to $87.00 in a research note on Wednesday, June 1st. Finally, Benchmark reduced their target price on shares of General Motors from $75.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.94.

General Motors Company Profile

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General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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

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