Atria Wealth Solutions Inc. Boosts Stock Holdings in General Motors (NYSE:GM)

Atria Wealth Solutions Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,938 shares of the auto manufacturer’s stock after purchasing an additional 14,098 shares during the period. Atria Wealth Solutions Inc.’s holdings in General Motors were worth $3,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GM. Blue Trust Inc. grew its holdings in General Motors by 204.9% in the third quarter. Blue Trust Inc. now owns 7,654 shares of the auto manufacturer’s stock valued at $356,000 after purchasing an additional 5,144 shares during the period. OLD National Bancorp IN acquired a new stake in General Motors in the 3rd quarter valued at $269,000. Foundations Investment Advisors LLC increased its holdings in General Motors by 2.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 13,212 shares of the auto manufacturer’s stock worth $592,000 after acquiring an additional 292 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in General Motors by 29.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 55,969 shares of the auto manufacturer’s stock worth $2,510,000 after acquiring an additional 12,729 shares in the last quarter. Finally, Eastern Bank acquired a new position in General Motors during the third quarter worth $34,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

General Motors stock opened at $47.84 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average price of $50.81 and a 200 day moving average price of $50.11. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The stock has a market cap of $47.60 billion, a P/E ratio of 7.78, a PEG ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. Sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s dividend payout ratio is currently 7.80%.

Insider Activity

In other news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GM shares. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho increased their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and raised their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein boosted their price target on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $59.71.

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.