Graypoint LLC Lowers Position in General Motors (NYSE:GM)

Graypoint LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,409 shares of the auto manufacturer’s stock after selling 401 shares during the period. Graypoint LLC’s holdings in General Motors were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank grew its stake in shares of General Motors by 6.9% during the 4th quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer’s stock worth $206,000 after purchasing an additional 249 shares during the period. Range Financial Group LLC purchased a new stake in General Motors during the fourth quarter worth about $1,669,000. Fortem Financial Group LLC grew its position in General Motors by 2.4% during the fourth quarter. Fortem Financial Group LLC now owns 27,322 shares of the auto manufacturer’s stock worth $1,455,000 after buying an additional 630 shares during the period. GAMMA Investing LLC lifted its position in shares of General Motors by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 18,200 shares of the auto manufacturer’s stock valued at $970,000 after acquiring an additional 2,672 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of General Motors by 104.7% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the auto manufacturer’s stock worth $78,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

GM opened at $49.85 on Friday. The company’s 50 day simple moving average is $53.93 and its 200 day simple moving average is $49.47. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 1 year low of $34.32 and a 1 year high of $61.24. The stock has a market capitalization of $54.81 billion, a PE ratio of 5.31, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.28 EPS. As a group, sell-side analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a $0.12 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Analysts Set New Price Targets

GM has been the subject of several research reports. Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wedbush lifted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their price target on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.58.

General Motors 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.