General Motors (NYSE:GM) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 67.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,713 shares of the auto manufacturer’s stock after selling 66,542 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in General Motors were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Donald Smith & CO. Inc. increased its position in shares of General Motors by 53.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,453,221 shares of the auto manufacturer’s stock worth $52,200,000 after acquiring an additional 503,816 shares in the last quarter. Investment House LLC purchased a new position in General Motors during the 4th quarter worth approximately $1,800,000. Choreo LLC purchased a new stake in shares of General Motors in the fourth quarter valued at $1,989,000. Convergence Investment Partners LLC acquired a new position in General Motors during the fourth quarter valued at $217,000. Finally, Intact Investment Management Inc. raised its holdings in shares of General Motors by 31.6% during the 4th quarter. Intact Investment Management Inc. now owns 90,700 shares of the auto manufacturer’s stock valued at $3,258,000 after purchasing an additional 21,800 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GM shares. The Goldman Sachs Group lifted their price target on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley increased their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their target price on shares of General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Wednesday, April 24th. Barclays increased their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Piper Sandler boosted their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Stock Up 0.4 %

Shares of GM stock opened at $44.86 on Friday. The firm’s fifty day moving average price is $42.74 and its two-hundred day moving average price is $36.69. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 1 year low of $26.30 and a 1 year high of $46.17. The firm has a market capitalization of $51.18 billion, a P/E ratio of 5.48, a PEG ratio of 0.52 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.54% 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.