Avestar Capital LLC Acquires 213 Shares of General Motors (NYSE:GM)

Avestar Capital LLC raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,592 shares of the auto manufacturer’s stock after acquiring an additional 213 shares during the period. Avestar Capital LLC’s holdings in General Motors were worth $430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. Chicago Partners Investment Group LLC grew its holdings in General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after purchasing an additional 1,559 shares during the period. Donald Smith & CO. Inc. increased its holdings in shares of General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after acquiring an additional 175,860 shares in the last quarter. Foster & Motley Inc. raised its position in shares of General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC lifted its holdings in shares of General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after purchasing an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its position in shares of General Motors by 14.9% in the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after purchasing an additional 21,000 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of NYSE GM opened at $55.50 on Thursday. General Motors has a 12 month low of $28.33 and a 12 month high of $61.24. The stock has a 50 day moving average of $51.29 and a 200-day moving average of $47.94. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $61.03 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping 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 net margin of 6.06% and a return on equity of 16.30%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.28 earnings per share. As a group, equities research analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. UBS Group boosted 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. Finally, Royal Bank of Canada raised their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.92.

Insiders Place Their Bets

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 over the last three months. Insiders own 0.72% of the company’s stock.

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.