Vicus Capital Sells 1,713 Shares of General Motors (NYSE:GM)

Vicus Capital cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 15.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,652 shares of the auto manufacturer’s stock after selling 1,713 shares during the quarter. Vicus Capital’s holdings in General Motors were worth $433,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in General Motors in the second quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC increased its holdings in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of General Motors during the first quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the second quarter valued at about $33,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Up 9.8 %

General Motors stock opened at $53.73 on Wednesday. General Motors has a 12 month low of $26.30 and a 12 month high of $54.17. The firm has a market cap of $61.30 billion, a PE ratio of 6.57, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock’s 50 day simple moving average is $47.33 and its two-hundred day simple moving average is $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter last year, the firm posted $1.91 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GM. Wells Fargo & Company cut their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Barclays upped their price objective on shares of General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a report on Monday, August 5th. The Goldman Sachs Group increased their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price target on shares of General Motors in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.35.

Insider Activity

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors Company 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.