Apollon Wealth Management LLC Boosts Stock Position in General Motors (NYSE:GM)

Apollon Wealth Management LLC grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,509 shares of the auto manufacturer’s stock after purchasing an additional 2,449 shares during the period. Apollon Wealth Management LLC’s holdings in General Motors were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. CWM LLC grew its position in General Motors by 17.8% in the third quarter. CWM LLC now owns 57,583 shares of the auto manufacturer’s stock worth $2,582,000 after acquiring an additional 8,700 shares during the period. Ritholtz Wealth Management acquired a new position in General Motors during the third quarter worth $389,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in General Motors by 569.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,621 shares of the auto manufacturer’s stock worth $73,000 after purchasing an additional 1,379 shares in the last quarter. Procyon Advisors LLC lifted its stake in General Motors by 2.0% during the third quarter. Procyon Advisors LLC now owns 28,357 shares of the auto manufacturer’s stock worth $1,272,000 after purchasing an additional 545 shares in the last quarter. Finally, CX Institutional lifted its stake in General Motors by 786.6% during the third quarter. CX Institutional now owns 87,591 shares of the auto manufacturer’s stock worth $3,928,000 after purchasing an additional 77,712 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of GM stock opened at $46.69 on Wednesday. The stock’s 50-day moving average is $51.63 and its two-hundred day moving average is $49.96. The firm has a market cap of $46.46 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 0.68 and a beta of 1.40. General Motors has a 1 year low of $37.83 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Analysts predict that General Motors will post 11.28 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 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 1.03%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GM. Wells Fargo & Company upped their price target on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.28.

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.