General Motors (NYSE:GM) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,968 shares of the auto manufacturer’s stock after buying an additional 1,082 shares during the period. Wedmont Private Capital’s holdings in General Motors were worth $497,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GM. Rathbones Group PLC boosted its stake in shares of General Motors by 6.9% during the second quarter. Rathbones Group PLC now owns 5,858 shares of the auto manufacturer’s stock worth $272,000 after buying an additional 380 shares during the period. Quantbot Technologies LP raised its holdings in General Motors by 128.6% during the second quarter. Quantbot Technologies LP now owns 63,241 shares of the auto manufacturer’s stock worth $2,938,000 after purchasing an additional 35,579 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in General Motors during the second quarter worth about $231,000. Lumbard & Kellner LLC purchased a new position in General Motors during the second quarter worth about $230,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in General Motors by 14.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 134,537 shares of the auto manufacturer’s stock worth $6,251,000 after purchasing an additional 17,159 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GM shares. JPMorgan Chase & Co. increased their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Mizuho increased their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Wedbush increased their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.58.

Insider Buying and Selling

In related news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by insiders.

General Motors Trading Up 1.4 %

Shares of GM opened at $51.65 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $53.83 and a 200-day simple moving average of $49.56. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The stock has a market cap of $56.79 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company posted $2.28 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Equities analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were given a dividend of $0.12 per share. The ex-dividend date was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.