Cornerstone Advisors LLC Has $3.03 Million Stock Holdings in General Motors (NYSE:GM)

Cornerstone Advisors LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,600 shares of the auto manufacturer’s stock after buying an additional 1,300 shares during the period. Cornerstone Advisors LLC’s holdings in General Motors were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC lifted its holdings in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the 2nd quarter valued at approximately $33,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 9,307 shares of General Motors 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 directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,034,351 shares of company stock worth $56,601,268 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $55.60 on Friday. The firm’s 50-day moving average is $50.50 and its 200-day moving average is $47.58. The company has a market cap of $61.13 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 52-week low of $27.83 and a 52-week high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GM shares. Sanford C. Bernstein raised their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. The Goldman Sachs Group upped their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.92.

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.