General Motors (NYSE:GM) Position Cut by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 97.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,021 shares of the auto manufacturer’s stock after selling 537,240 shares during the quarter. International Assets Investment Management LLC’s holdings in General Motors were worth $618,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GM. Coldstream Capital Management Inc. raised its stake in shares of General Motors by 5.2% during the second quarter. Coldstream Capital Management Inc. now owns 16,068 shares of the auto manufacturer’s stock valued at $747,000 after purchasing an additional 792 shares in the last quarter. American Century Companies Inc. increased its stake in General Motors by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 1,782,796 shares of the auto manufacturer’s stock valued at $82,829,000 after buying an additional 33,239 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of General Motors by 72.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 53,239 shares of the auto manufacturer’s stock worth $2,473,000 after buying an additional 22,295 shares in the last quarter. Abbrea Capital LLC lifted its stake in shares of General Motors by 10.6% in the 2nd quarter. Abbrea Capital LLC now owns 5,395 shares of the auto manufacturer’s stock worth $251,000 after acquiring an additional 515 shares during the period. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of General Motors by 34.7% in the second quarter. Meeder Advisory Services Inc. now owns 28,617 shares of the auto manufacturer’s stock valued at $1,330,000 after acquiring an additional 7,370 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last three months. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein upped their target price 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. Royal Bank of Canada boosted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their price target 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. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.58.

General Motors Price Performance

NYSE GM opened at $49.85 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market capitalization of $54.81 billion, a price-to-earnings ratio of 5.31, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. The company has a 50 day simple moving average of $53.93 and a 200-day simple moving average of $49.45. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business posted $2.28 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.