Westside Investment Management Inc. Has $155,000 Stake in General Motors (NYSE:GM)

Westside Investment Management Inc. decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,428 shares of the auto manufacturer’s stock after selling 800 shares during the period. Westside Investment Management Inc.’s holdings in General Motors were worth $155,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norden Group LLC bought a new stake in shares of General Motors in the 1st quarter valued at approximately $493,000. Denali Advisors LLC grew its stake in shares of General Motors by 6.5% in the 1st quarter. Denali Advisors LLC now owns 18,100 shares of the auto manufacturer’s stock valued at $821,000 after buying an additional 1,100 shares in the last quarter. Quattro Financial Advisors LLC grew its stake in shares of General Motors by 49,900.0% in the 1st quarter. Quattro Financial Advisors LLC now owns 18,000 shares of the auto manufacturer’s stock valued at $816,000 after buying an additional 17,964 shares in the last quarter. MV Capital Management Inc. grew its stake in shares of General Motors by 35.3% in the 1st quarter. MV Capital Management Inc. now owns 1,101 shares of the auto manufacturer’s stock valued at $50,000 after buying an additional 287 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of General Motors by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,536,428 shares of the auto manufacturer’s stock valued at $69,677,000 after buying an additional 129,128 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock worth $51,818,111 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Sanford C. Bernstein started coverage on General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target for the company. Piper Sandler upped their target price on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Wells Fargo & Company upped their target price on General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 25th. Finally, Barclays upped their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.91.

General Motors Stock Performance

Shares of NYSE GM opened at $46.68 on Thursday. The business has a fifty day simple moving average of $45.70 and a 200 day simple moving average of $41.61. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $53.26 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 0.50 and a beta of 1.43. General Motors has a one year low of $26.30 and a one year high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 earnings per share. Sell-side analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors announced that its Board of Directors has authorized a share buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio is currently 5.87%.

General Motors 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.