Cassaday & Co Wealth Management LLC Cuts Stake in General Motors (NYSE:GM)

Cassaday & Co Wealth Management LLC cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,774 shares of the auto manufacturer’s stock after selling 574 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in General Motors were worth $734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ING Groep NV grew its holdings in shares of General Motors by 18.0% in the fourth quarter. ING Groep NV now owns 520,442 shares of the auto manufacturer’s stock valued at $27,724,000 after purchasing an additional 79,328 shares in the last quarter. Hussman Strategic Advisors Inc. grew its holdings in shares of General Motors by 150.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 52,500 shares of the auto manufacturer’s stock valued at $2,797,000 after purchasing an additional 31,500 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of General Motors by 10.9% in the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after purchasing an additional 19,924 shares in the last quarter. Sunpointe LLC grew its holdings in shares of General Motors by 20.7% in the fourth quarter. Sunpointe LLC now owns 5,591 shares of the auto manufacturer’s stock valued at $298,000 after purchasing an additional 957 shares in the last quarter. Finally, LMG Wealth Partners LLC purchased a new position in shares of General Motors in the fourth quarter valued at $200,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on GM. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.71.

General Motors Price Performance

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

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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 given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s dividend payout ratio is currently 7.80%.

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.