Assetmark Inc. Sells 18,167 Shares of General Motors (NYSE:GM)

Assetmark Inc. reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 23.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,927 shares of the auto manufacturer’s stock after selling 18,167 shares during the quarter. Assetmark Inc.’s holdings in General Motors were worth $2,687,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the third quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in General Motors during the second quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on GM. DZ Bank downgraded shares of 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. Royal Bank of Canada increased their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays boosted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.92.

General Motors Stock Performance

NYSE:GM opened at $57.72 on Thursday. The stock has a market capitalization of $63.47 billion, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. General Motors has a 1 year low of $27.41 and a 1 year high of $58.42. The firm has a 50 day moving average of $49.15 and a 200-day moving average of $47.06. 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 issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS. As a group, sell-side analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

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.