General Motors (NYSE:GM) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,501 shares of the auto manufacturer’s stock after selling 3,263 shares during the period. MAI Capital Management’s holdings in General Motors were worth $1,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in shares of General Motors by 1.0% in the third quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock valued at $2,340,000 after buying an additional 539 shares during the last quarter. Claro Advisors LLC increased its position in General Motors by 18.1% in the 3rd quarter. Claro Advisors LLC now owns 9,631 shares of the auto manufacturer’s stock valued at $432,000 after acquiring an additional 1,478 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new stake in General Motors during the 3rd quarter valued at approximately $267,000. Empirical Finance LLC grew its stake in shares of General Motors by 0.9% in the 3rd quarter. Empirical Finance LLC now owns 44,499 shares of the auto manufacturer’s stock valued at $1,995,000 after purchasing an additional 404 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of General Motors by 8.0% in the third quarter. CIBC Asset Management Inc now owns 170,693 shares of the auto manufacturer’s stock valued at $7,654,000 after purchasing an additional 12,649 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In related news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on 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 transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value 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 approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,034,351 shares of company stock valued at $56,601,268 in the last 90 days. 0.72% of the stock is currently owned by insiders.

General Motors Trading Up 1.3 %

General Motors stock opened at $55.60 on Friday. The stock has a 50-day moving average price of $50.50 and a 200 day moving average price of $47.58. General Motors has a 52 week low of $27.83 and a 52 week high of $59.39. The stock has a market cap of $61.13 billion, a PE ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The business 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%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 earnings per share. Equities research analysts predict 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 will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Wedbush raised their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.92.

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.