Merit Financial Group LLC Decreases Position in General Motors (NYSE:GM)

Merit Financial Group LLC trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 29.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,007 shares of the auto manufacturer’s stock after selling 3,390 shares during the period. Merit Financial Group LLC’s holdings in General Motors were worth $288,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SouthState Corp increased its stake in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the period. Highlander Capital Management LLC purchased a new position in shares of General Motors in the fourth quarter worth $27,000. Bfsg LLC bought a new stake in General Motors during the 4th quarter valued at $35,000. Tennessee Valley Asset Management Partners purchased a new stake in General Motors during the 4th quarter valued at $36,000. Finally, Venturi Wealth Management LLC grew its holdings in General Motors by 74.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock worth $44,000 after acquiring an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

General Motors stock opened at $45.06 on Thursday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $51.41 billion, a P/E ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.49. The stock’s 50 day moving average is $43.05 and its 200 day moving average is $37.11.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GM. Barclays increased their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price objective on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, April 24th. Piper Sandler boosted their target price on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup raised their price target on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

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.