General Motors (NYSE:GM) Shares Bought by Wedmont Private Capital

Wedmont Private Capital raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,968 shares of the auto manufacturer’s stock after purchasing an additional 1,082 shares during the quarter. Wedmont Private Capital’s holdings in General Motors were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Rathbones Group PLC raised its stake in shares of General Motors by 6.9% in the 2nd quarter. Rathbones Group PLC now owns 5,858 shares of the auto manufacturer’s stock valued at $272,000 after acquiring an additional 380 shares during the period. Quantbot Technologies LP raised its stake in shares of General Motors by 128.6% in the 2nd quarter. Quantbot Technologies LP now owns 63,241 shares of the auto manufacturer’s stock valued at $2,938,000 after acquiring an additional 35,579 shares during the period. Citizens Financial Group Inc. RI purchased a new position in shares of General Motors in the 2nd quarter valued at $231,000. Lumbard & Kellner LLC purchased a new position in shares of General Motors in the 2nd quarter valued at $230,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of General Motors by 14.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 134,537 shares of the auto manufacturer’s stock valued at $6,251,000 after acquiring an additional 17,159 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 1.4 %

NYSE GM opened at $51.65 on Thursday. General Motors has a one year low of $34.32 and a one year high of $61.24. The company has a 50-day simple moving average of $53.83 and a 200-day simple moving average of $49.56. 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 firm has a market capitalization of $56.79 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the business posted $2.28 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts forecast that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GM. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Wedbush lifted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, December 16th. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.58.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,030,475 shares of company stock worth $56,509,286. Insiders own 0.72% of the company’s stock.

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.