General Motors (NYSE:GM) Stake Decreased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,852 shares of the auto manufacturer’s stock after selling 349 shares during the quarter. Arete Wealth Advisors LLC’s holdings in General Motors were worth $218,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of General Motors by 178.3% during the 2nd quarter. Blue Trust Inc. now owns 2,510 shares of the auto manufacturer’s stock worth $114,000 after buying an additional 1,608 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in General Motors by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 196,011 shares of the auto manufacturer’s stock worth $9,107,000 after purchasing an additional 7,136 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in General Motors by 1.7% in the second quarter. ZWJ Investment Counsel Inc. now owns 380,637 shares of the auto manufacturer’s stock worth $17,684,000 after purchasing an additional 6,198 shares during the period. Pallas Capital Advisors LLC boosted its stake in General Motors by 75.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 13,114 shares of the auto manufacturer’s stock valued at $651,000 after purchasing an additional 5,642 shares in the last quarter. Finally, Sunpointe LLC acquired a new position in shares of General Motors during the 2nd quarter valued at $214,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the subject of several research analyst reports. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday. Barclays upped their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.85.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. This represents a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last three months. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

NYSE GM opened at $52.53 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market capitalization of $57.76 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The company has a 50 day simple moving average of $53.00 and a 200-day simple moving average of $48.68. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.