General Motors (NYSE:GM) Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 38.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,426 shares of the auto manufacturer’s stock after buying an additional 2,617 shares during the quarter. Arkadios Wealth Advisors’ holdings in General Motors were worth $438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Certuity LLC acquired a new position in General Motors in the 4th quarter valued at $217,000. Savant Capital LLC increased its holdings in shares of General Motors by 34.7% in the fourth quarter. Savant Capital LLC now owns 19,770 shares of the auto manufacturer’s stock valued at $710,000 after purchasing an additional 5,090 shares during the last quarter. Summit Financial LLC lifted its position in General Motors by 4.3% during the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after buying an additional 273 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in General Motors by 26.4% during the fourth quarter. First Trust Direct Indexing L.P. now owns 19,654 shares of the auto manufacturer’s stock worth $706,000 after buying an additional 4,105 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in General Motors by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 6,497,100 shares of the auto manufacturer’s stock valued at $233,376,000 after buying an additional 30,641 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM stock traded down $0.02 during mid-day trading on Friday, hitting $49.45. 7,008,457 shares of the stock were exchanged, compared to its average volume of 15,444,169. The stock’s fifty day simple moving average is $46.01 and its two-hundred day simple moving average is $44.30. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The stock has a market capitalization of $56.42 billion, a price-to-earnings ratio of 6.05, a P/E/G ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 earnings per share. On average, analysts forecast that General Motors will post 9.94 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GM. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. Insiders have sold a total of 391,402 shares of company stock valued at $18,818,536 over the last quarter. 0.72% of the stock is currently owned by insiders.

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.