OneAscent Wealth Management LLC Makes New Investment in General Motors (NYSE:GM)

OneAscent Wealth Management LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,320 shares of the auto manufacturer’s stock, valued at approximately $241,000.

A number of other institutional investors also recently bought and sold shares of GM. Unison Advisors LLC boosted its position in shares of General Motors by 0.4% during the 1st quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock valued at $3,047,000 after acquiring an additional 246 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in shares of General Motors by 5.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of General Motors by 2.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock valued at $399,000 after acquiring an additional 268 shares during the last quarter. Summit Financial LLC lifted its position in General Motors by 4.3% in the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock valued at $239,000 after buying an additional 273 shares during the last quarter. Finally, RMR Wealth Builders lifted its position in General Motors by 1.2% in the first quarter. RMR Wealth Builders now owns 25,161 shares of the auto manufacturer’s stock valued at $1,141,000 after buying an additional 300 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group upped their target price on shares of General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Citigroup upped their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Saturday, June 1st. Barclays upped their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.91.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 over the last three months. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Up 1.9 %

GM stock opened at $46.46 on Friday. The company’s 50 day moving average price is $45.60 and its 200 day moving average price is $41.40. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The firm has a market capitalization of $53.01 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.48 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 earnings per share. On average, equities research analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors announced that its board has authorized a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.