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

Arete Wealth Advisors LLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,852 shares of the auto manufacturer’s stock after selling 349 shares during the period. Arete Wealth Advisors LLC’s holdings in General Motors were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter valued at about $27,000. Truvestments Capital LLC purchased a new position in shares of General Motors during the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the second quarter worth approximately $28,000. Finally, EdgeRock Capital LLC purchased a new stake in General Motors in the second quarter valued at approximately $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on GM. Mizuho increased their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, UBS Group lifted their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus target price of $58.85.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. Insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.4 %

Shares of GM opened at $52.53 on Friday. General Motors has a one year low of $34.32 and a one year high of $61.24. The stock has a 50-day moving average price of $53.00 and a 200 day moving average price of $48.68. 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 company has a market capitalization of $57.76 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.39 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The company 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 business’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 EPS. Sell-side analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.