Allworth Financial LP Raises Position in General Motors (NYSE:GM)

Allworth Financial LP raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 17.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,823 shares of the auto manufacturer’s stock after purchasing an additional 1,639 shares during the quarter. Allworth Financial LP’s holdings in General Motors were worth $571,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Principal Securities Inc. boosted its stake in shares of General Motors by 15.3% during the 4th quarter. Principal Securities Inc. now owns 32,693 shares of the auto manufacturer’s stock valued at $1,742,000 after purchasing an additional 4,334 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter valued at about $297,000. WASHINGTON TRUST Co boosted its stake in General Motors by 65.0% during the fourth quarter. WASHINGTON TRUST Co now owns 1,015 shares of the auto manufacturer’s stock worth $54,000 after acquiring an additional 400 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in General Motors by 0.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 114,310 shares of the auto manufacturer’s stock worth $6,089,000 after acquiring an additional 755 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in General Motors by 35.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock worth $234,364,000 after acquiring an additional 1,159,958 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein upped their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus target price of $59.71.

Insiders Place Their Bets

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

General Motors Stock Up 0.1 %

Shares of General Motors stock opened at $47.84 on Friday. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The company’s 50 day moving average is $50.81 and its 200 day moving average is $50.11. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Research analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.00%. General Motors’s payout ratio is presently 7.80%.

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.