Commonwealth Equity Services LLC Decreases Stock Position in General Motors (NYSE:GM)

Commonwealth Equity Services LLC reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,391 shares of the auto manufacturer’s stock after selling 13,600 shares during the quarter. Commonwealth Equity Services LLC’s holdings in General Motors were worth $13,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the fourth quarter valued at $26,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the third quarter valued at $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of analyst reports. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Mizuho increased their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.89.

General Motors Stock Performance

Shares of NYSE:GM opened at $48.62 on Wednesday. The company has a market cap of $48.38 billion, a P/E ratio of 7.91, a PEG ratio of 0.67 and a beta of 1.42. 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 has a one year low of $38.96 and a one year high of $61.24. The business’s 50-day simple moving average is $49.07 and its 200 day simple moving average is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results 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 return on equity of 15.29% and a net margin of 3.21%. On average, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. 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 0.99%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

General Motors 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.