SOA Wealth Advisors LLC. Lowers Position in General Motors (NYSE:GM)

SOA Wealth Advisors LLC. lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,481 shares of the auto manufacturer’s stock after selling 199 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in General Motors were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares during the period. Dimensional Fund Advisors LP raised its position in shares of General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after buying an additional 421,989 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last 90 days. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GM shares. Royal Bank of Canada raised their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. UBS Group increased their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.85.

General Motors Stock Performance

Shares of GM stock opened at $52.03 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business has a fifty day moving average of $52.57 and a 200 day moving average of $48.53. The firm has a market capitalization of $57.21 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. General Motors has a 1 year low of $32.83 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, research analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s payout ratio is currently 5.12%.

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.