Waterfront Wealth Inc. Has $1.09 Million Stock Position in General Motors (NYSE:GM)

Waterfront Wealth Inc. lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 38.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,455 shares of the auto manufacturer’s stock after selling 12,921 shares during the quarter. Waterfront Wealth Inc.’s holdings in General Motors were worth $1,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new stake in General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the 4th quarter worth approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the 3rd quarter worth approximately $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the 3rd quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of General Motors during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

GM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group lifted their price objective on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and an average price target of $59.71.

General Motors Price Performance

NYSE GM opened at $47.84 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company has a market capitalization of $47.60 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The firm’s 50 day moving average is $50.81 and its 200-day moving average is $50.11.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is 7.80%.

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.