SeaCrest Wealth Management LLC Has $316,000 Stock Holdings in General Motors (NYSE:GM)

SeaCrest Wealth Management LLC lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,804 shares of the auto manufacturer’s stock after purchasing an additional 227 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Motors were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the first quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its stake in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Cape Investment Advisory Inc. increased its holdings in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of General Motors in the 1st quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of General Motors in the first quarter valued at about $32,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other General Motors news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Insiders have sold a total of 1,152,621 shares of company stock worth $51,818,111 over the last 90 days. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GM. UBS Group lifted their target price on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on shares of General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $55.17.

General Motors Price Performance

GM stock traded up $0.29 during midday trading on Tuesday, reaching $46.05. The company had a trading volume of 5,971,228 shares, compared to its average volume of 15,740,604. The company has a market capitalization of $52.54 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. The stock has a 50 day moving average price of $45.99 and a 200-day moving average price of $43.88. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 earnings per share. Equities research analysts expect that General Motors will post 9.94 earnings per share for the current year.

General Motors announced that its Board of Directors has approved a stock buyback plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

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.