Independent Wealth Network Inc. Purchases Shares of 5,598 General Motors (NYSE:GM)

Independent Wealth Network Inc. acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,598 shares of the auto manufacturer’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after purchasing an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after purchasing an additional 421,989 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after buying an additional 358,507 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Activity

In other General Motors 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 value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 514,344 shares of company stock worth $28,977,691 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 3.0 %

Shares of NYSE GM opened at $54.32 on Friday. The firm has a 50 day moving average price of $53.30 and a 200 day moving average price of $49.76. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market cap of $59.73 billion, a P/E ratio of 5.79, a P/E/G ratio of 0.39 and a beta of 1.42. General Motors has a 52-week low of $34.56 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 earnings per share. Analysts expect that General Motors will post 10.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GM shares. Wells Fargo & Company reduced their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. Wedbush upped their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.05.

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.