EverSource Wealth Advisors LLC Trims Holdings in General Motors (NYSE:GM)

EverSource Wealth Advisors LLC cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,565 shares of the auto manufacturer’s stock after selling 621 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in General Motors were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GM. Golden State Wealth Management LLC purchased a new stake in General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the fourth quarter worth $26,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the third quarter worth $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors in the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. increased its stake in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GM shares. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a report on Saturday, March 1st. Cowen assumed coverage on shares of General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, General Motors currently has an average rating of “Hold” and an average price target of $62.89.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

General Motors stock opened at $48.34 on Friday. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $48.10 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The firm’s fifty day moving average price is $49.23 and its 200 day moving average price is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, research analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.