WealthTrust Axiom LLC Sells 650 Shares of General Motors (NYSE:GM)

WealthTrust Axiom LLC reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,791 shares of the auto manufacturer’s stock after selling 650 shares during the period. WealthTrust Axiom LLC’s holdings in General Motors were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new position in General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors during the 4th quarter worth approximately $27,000. Whittier Trust Co. raised its stake in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

GM has been the topic of a number of recent analyst reports. Sanford C. Bernstein downgraded shares of General Motors from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $35.00 in a report on Monday, April 7th. Mizuho lowered their price objective on shares of General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.33.

General Motors Price Performance

Shares of NYSE GM opened at $43.65 on Friday. The business has a fifty day moving average price of $47.36 and a two-hundred day moving average price of $50.35. The stock has a market capitalization of $43.43 billion, a PE ratio of 7.10, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly 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 predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.10%. General Motors’s dividend payout ratio is currently 7.80%.

General Motors announced that its board has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.