AdvisorNet Financial Inc Reduces Holdings in General Motors (NYSE:GM)

AdvisorNet Financial Inc decreased its holdings in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 36.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,794 shares of the auto manufacturer’s stock after selling 3,888 shares during the period. AdvisorNet Financial Inc’s holdings in General Motors were worth $244,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. VisionPoint Advisory Group LLC purchased a new stake in shares of General Motors during the second quarter worth about $25,000. SouthState Corp boosted its position in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 485 shares during the last quarter. Penserra Capital Management LLC boosted its position in General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in General Motors in the third quarter valued at approximately $33,000. Finally, Blue Trust Inc. boosted its position in General Motors by 135.3% in the fourth quarter. Blue Trust Inc. now owns 1,412 shares of the auto manufacturer’s stock valued at $47,000 after buying an additional 812 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. Mizuho upped their target price on General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Tigress Financial upped their target price on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Piper Sandler initiated coverage on General Motors in a report on Friday, March 15th. They issued a “neutral” rating and a $44.00 price target for the company. Wedbush boosted their price target on General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Redburn Atlantic assumed coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.63.

Read Our Latest Analysis on GM

General Motors Stock Down 1.1 %

Shares of GM opened at $44.89 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. General Motors has a one year low of $26.30 and a one year high of $45.73. The stock has a market capitalization of $51.82 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.56 and a beta of 1.51. The stock has a 50 day moving average price of $39.88 and a 200 day moving average price of $34.79.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. During the same period in the previous year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts forecast that General Motors will post 9 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. This is a boost from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. General Motors’s payout ratio is presently 6.57%.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is owned by corporate insiders.

General Motors Company Profile

(Free Report)

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.

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

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