Pinnacle Wealth Management Advisory Group LLC Sells 2,263 Shares of General Motors (NYSE:GM)

Pinnacle Wealth Management Advisory Group LLC lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 21.1% in the fourth quarter, Holdings Channel reports. The firm owned 8,458 shares of the auto manufacturer’s stock after selling 2,263 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in General Motors were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GM. SouthState Corp raised its holdings in shares of 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 General Motors during the 4th quarter valued at about $27,000. Bfsg LLC bought a new stake in shares of General Motors during the fourth quarter valued at about $35,000. Tennessee Valley Asset Management Partners purchased a new position in General Motors during the fourth quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC lifted its stake 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 purchasing an additional 525 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Citigroup lifted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein began coverage on shares of General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Tigress Financial raised their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Moderate Buy” and an average price target of $54.65.

General Motors Trading Up 0.6 %

Shares of GM stock traded up $0.26 during mid-day trading on Thursday, reaching $45.31. The stock had a trading volume of 5,202,781 shares, compared to its average volume of 16,775,902. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $43.05 and its two-hundred day moving average price is $37.11. The firm has a market capitalization of $51.70 billion, a PE ratio of 5.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is presently 5.87%.

Insider Buying and Selling at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors 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 of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’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 directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gerald Johnson sold 15,190 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.72% of the company’s stock.

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.