ARS Wealth Advisors Group LLC Reduces Holdings in General Motors (NYSE:GM)

ARS Wealth Advisors Group LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 78.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,054 shares of the auto manufacturer’s stock after selling 32,195 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in General Motors were worth $325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. SouthState Corp increased its stake in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after buying an additional 485 shares during the last quarter. Highlander Capital Management LLC acquired a new position in General Motors during the 4th quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of General Motors in the 3rd quarter worth about $33,000. Bfsg LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the fourth quarter worth about $36,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GM. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. The Goldman Sachs Group raised their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Barclays boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Sanford C. Bernstein started coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

General Motors Stock Performance

GM stock traded up $0.19 during trading on Friday, reaching $44.86. 10,046,006 shares of the company’s stock were exchanged, compared to its average volume of 14,174,765. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. The firm has a market cap of $51.18 billion, a PE ratio of 5.48, a P/E/G ratio of 0.52 and a beta of 1.49. The company’s fifty day moving average price is $42.84 and its 200-day moving average price is $36.79. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In other 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 owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

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.