General Motors (NYSE:GM) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,565 shares of the auto manufacturer’s stock after selling 621 shares during the period. EverSource Wealth Advisors LLC’s holdings in General Motors were worth $243,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. PFG Advisors acquired a new stake in shares of General Motors during the 4th quarter worth about $210,000. HighTower Advisors LLC increased its stake in General Motors by 0.6% in the fourth quarter. HighTower Advisors LLC now owns 3,044,889 shares of the auto manufacturer’s stock valued at $162,201,000 after purchasing an additional 18,449 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in General Motors by 18.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 6,028 shares of the auto manufacturer’s stock valued at $321,000 after purchasing an additional 934 shares during the last quarter. Sage Mountain Advisors LLC raised its holdings in General Motors by 20.6% during the fourth quarter. Sage Mountain Advisors LLC now owns 9,563 shares of the auto manufacturer’s stock worth $509,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Davis R M Inc. purchased a new stake in shares of General Motors during the 4th quarter worth approximately $203,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 2.6 %

NYSE:GM opened at $48.34 on Friday. The stock has a market capitalization of $48.10 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The stock has a fifty day moving average price of $49.23 and a two-hundred day moving average price of $50.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts anticipate 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 will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.89.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

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.