Assetmark Inc. Lowers Position in General Motors (NYSE:GM)

Assetmark Inc. trimmed its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 23.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GM. US Bancorp DE increased its position in General Motors by 1.6% during the first quarter. US Bancorp DE now owns 88,246 shares of the auto manufacturer's stock worth $4,002,000 after purchasing an additional 1,358 shares during the last quarter. SageView Advisory Group LLC acquired a new position in General Motors in the first quarter valued at approximately $625,000. HBK Sorce Advisory LLC increased its stake in General Motors by 89.8% during the first quarter. HBK Sorce Advisory LLC now owns 13,161 shares of the auto manufacturer's stock worth $597,000 after acquiring an additional 6,227 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in General Motors by 14.8% in the first quarter. Orion Portfolio Solutions LLC now owns 53,078 shares of the auto manufacturer's stock valued at $2,407,000 after purchasing an additional 6,852 shares during the period. Finally, Leo Wealth LLC acquired a new position in shares of General Motors in the 1st quarter valued at $210,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley downgraded General Motors from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Wedbush boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a "strong sell" rating in a report on Monday, August 5th. Finally, Royal Bank of Canada upped their price target on General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of "Hold" and a consensus target price of $56.92.

General Motors Stock Down 0.2 %

NYSE:GM traded down $0.09 during trading hours on Thursday, hitting $57.62. The company's stock had a trading volume of 17,720,311 shares, compared to its average volume of 14,920,088. General Motors has a 52-week low of $27.42 and a 52-week high of $59.39. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $63.36 billion, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The stock has a fifty day moving average of $49.33 and a 200-day moving average of $47.13.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.28 EPS. On average, equities analysts forecast that General Motors will post 10.35 earnings per share for the current 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 paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.83%. General Motors's dividend payout ratio is presently 5.12%.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company's stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, President Mark L. Reuss sold 122,283 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company's stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company'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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 653,511 shares of company stock worth $35,012,844. Corporate 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.