Independent Advisor Alliance Has $771,000 Position in General Motors (NYSE:GM)

Independent Advisor Alliance reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,199 shares of the auto manufacturer’s stock after selling 2,355 shares during the quarter. Independent Advisor Alliance’s holdings in General Motors were worth $771,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GM. Silvercrest Asset Management Group LLC raised its stake in General Motors by 7.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock worth $322,000 after acquiring an additional 473 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in General Motors by 35.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock worth $1,655,000 after acquiring an additional 9,460 shares in the last quarter. LRI Investments LLC acquired a new position in General Motors during the first quarter worth $34,000. Atria Investments Inc raised its stake in General Motors by 0.7% during the first quarter. Atria Investments Inc now owns 252,561 shares of the auto manufacturer’s stock worth $11,454,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Invst LLC acquired a new stake in shares of General Motors in the first quarter valued at $910,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,475 shares of company stock worth $56,509,286. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of GM opened at $55.50 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 1 year low of $28.33 and a 1 year high of $61.24. The stock has a market cap of $61.03 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The stock’s 50-day moving average price is $51.29 and its two-hundred day moving average price is $47.94.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $44.67 billion. During the same quarter last year, the business earned $2.28 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. 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 research note on Wednesday, October 23rd. UBS Group raised their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.92.

About General Motors

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.