Miracle Mile Advisors LLC Boosts Holdings in General Motors (NYSE:GM)

Miracle Mile Advisors LLC lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 113.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,459 shares of the auto manufacturer’s stock after purchasing an additional 5,549 shares during the period. Miracle Mile Advisors LLC’s holdings in General Motors were worth $557,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors in the third quarter worth $27,000. Truvestments Capital LLC bought a new stake in General Motors in the third quarter valued at $27,000. Fairscale Capital LLC bought a new position in General Motors in the 2nd quarter worth $36,000. Finally, Eastern Bank purchased a new position in shares of General Motors during the third quarter valued at about $34,000. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

Shares of General Motors stock opened at $51.65 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24. The stock’s 50-day simple moving average is $53.83 and its 200-day simple moving average is $49.56. The company has a market capitalization of $56.79 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.40 and a beta of 1.42.

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 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 analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. As a group, analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors 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 yield of 0.93%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insider Activity

In related news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 52.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.58.

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.