South State Corp Has $80,000 Stake in General Motors (NYSE:GM)

South State Corp lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 281.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,355 shares of the auto manufacturer’s stock after purchasing an additional 1,000 shares during the quarter. South State Corp’s holdings in General Motors were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in General Motors by 5.1% in the 1st quarter. Geode Capital Management LLC now owns 19,423,763 shares of the auto manufacturer’s stock valued at $1,112,764,000 after buying an additional 949,040 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of General Motors by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,394,184 shares of the auto manufacturer’s stock worth $827,218,000 after acquiring an additional 84,386 shares during the period. Nuveen Asset Management LLC lifted its holdings in General Motors by 73.0% during the 1st quarter. Nuveen Asset Management LLC now owns 12,135,664 shares of the auto manufacturer’s stock worth $697,315,000 after purchasing an additional 5,119,027 shares in the last quarter. Morgan Stanley raised its holdings in shares of General Motors by 31.7% in the 1st quarter. Morgan Stanley now owns 11,732,480 shares of the auto manufacturer’s stock valued at $674,148,000 after acquiring an additional 2,820,610 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in shares of General Motors by 3.9% during the 2nd quarter. Sanders Capital LLC now owns 11,662,858 shares of the auto manufacturer’s stock valued at $773,274,000 after buying an additional 435,735 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

NYSE:GM opened at $50.74 on Wednesday. The firm has a market capitalization of $73.66 billion, a PE ratio of 5.87, a P/E/G ratio of 0.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. The stock has a 50-day simple moving average of $53.10 and a two-hundred day simple moving average of $56.38. General Motors has a 52-week low of $28.24 and a 52-week high of $64.30.

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

Several research firms recently issued reports on GM. UBS Group raised their price target on General Motors from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, June 29th. Credit Suisse Group cut their price objective on General Motors from $77.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, August 5th. Zacks Investment Research lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Monday, August 9th. Bank of America lifted their price objective on General Motors from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, July 16th. Finally, Barclays cut their price objective on General Motors from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $67.95.

General Motors Company Profile

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: Hold Rating

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

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