General Motors (NYSE:GM) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,551 shares of the auto manufacturer’s stock after selling 2,457 shares during the period. NewEdge Wealth LLC’s holdings in General Motors were worth $2,213,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its stake in shares of General Motors by 9.4% in the 4th quarter. Lake Street Advisors Group LLC now owns 6,966 shares of the auto manufacturer’s stock valued at $371,000 after purchasing an additional 601 shares during the last quarter. Johnson Financial Group LLC purchased a new stake in shares of General Motors in the fourth quarter valued at approximately $455,000. MMCAP International Inc. SPC boosted its stake in shares of General Motors by 5.9% in the fourth quarter. MMCAP International Inc. SPC now owns 90,000 shares of the auto manufacturer’s stock valued at $4,794,000 after buying an additional 5,000 shares in the last quarter. Longbow Finance SA purchased a new stake in shares of General Motors in the fourth quarter valued at approximately $5,865,000. Finally, Todd Asset Management LLC boosted its stake in shares of General Motors by 14.0% in the fourth quarter. Todd Asset Management LLC now owns 514,080 shares of the auto manufacturer’s stock valued at $27,385,000 after buying an additional 62,995 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $49.22 on Friday. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The stock has a market cap of $48.97 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The business has a fifty day moving average of $50.34 and a 200-day moving average of $50.35. 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 (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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%. As a group, analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.98%. General Motors’s payout ratio is currently 7.80%.

Analyst Ratings Changes

A number of analysts recently weighed in on GM shares. Mizuho lifted their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, General Motors currently has an average rating of “Hold” and an average target price of $59.71.

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.