General Motors (NYSE:GM) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 64.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 447,588 shares of the auto manufacturer’s stock after selling 826,986 shares during the period. EP Wealth Advisors LLC’s holdings in General Motors were worth $16,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Syon Capital LLC bought a new position in shares of General Motors in the fourth quarter valued at approximately $253,000. Chicago Partners Investment Group LLC lifted its stake in General Motors by 10.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,141 shares of the auto manufacturer’s stock worth $491,000 after acquiring an additional 1,331 shares in the last quarter. Beacon Financial Group purchased a new position in General Motors during the 4th quarter valued at about $268,000. WNY Asset Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at about $219,000. Finally, Clarity Capital Partners LLC acquired a new position in General Motors in the 4th quarter valued at approximately $239,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of GM traded down $0.88 during mid-day trading on Friday, reaching $46.77. The company had a trading volume of 14,716,546 shares, compared to its average volume of 13,679,525. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The company has a market capitalization of $53.36 billion, a P/E ratio of 5.72, a P/E/G ratio of 0.54 and a beta of 1.46. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. The company’s 50-day moving average is $44.85 and its 200-day moving average is $40.41.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the business earned $2.21 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that General Motors will post 9.44 EPS for the current year.

General Motors announced that its board has authorized a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio is 5.87%.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,194,343 shares of company stock valued at $53,674,717. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. Sanford C. Bernstein started coverage on shares of General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada raised their price target on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Finally, Wedbush boosted their price objective on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.65.

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.