General Motors (NYSE:GM) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,628 shares of the auto manufacturer’s stock after acquiring an additional 1,471 shares during the quarter. Kingsview Wealth Management LLC’s holdings in General Motors were worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the third quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new position in General Motors during the second quarter worth about $28,000. Fortitude Family Office LLC increased its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at approximately $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 1.3 %

NYSE:GM opened at $55.50 on Thursday. General Motors has a 1 year low of $28.33 and a 1 year high of $61.24. The stock has a market cap of $61.03 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40. 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 stock has a 50-day simple moving average of $51.29 and a 200-day simple moving average of $47.94.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly 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 return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the company posted $2.28 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Barclays lifted their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.92.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were 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 $7,000,190.12. The trade was a 49.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s 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 completion of the sale, the executive vice president now 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 1,030,475 shares of company stock valued at $56,509,286 over the last ninety days. Insiders own 0.72% of the company’s stock.

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.