General Motors (NYSE:GM) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 251,391 shares of the auto manufacturer's stock after selling 13,600 shares during the period. Commonwealth Equity Services LLC's holdings in General Motors were worth $13,392,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GM. Claro Advisors LLC raised its stake in shares of General Motors by 18.1% in the 3rd quarter. Claro Advisors LLC now owns 9,631 shares of the auto manufacturer's stock valued at $432,000 after acquiring an additional 1,478 shares during the period. Thrivent Financial for Lutherans increased its holdings in General Motors by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer's stock valued at $2,340,000 after purchasing an additional 539 shares during the last quarter. Quest Partners LLC raised its position in General Motors by 81.0% in the third quarter. Quest Partners LLC now owns 37,516 shares of the auto manufacturer's stock valued at $1,682,000 after purchasing an additional 16,788 shares during the period. Caprock Group LLC lifted its stake in General Motors by 15.3% during the third quarter. Caprock Group LLC now owns 29,402 shares of the auto manufacturer's stock worth $1,318,000 after purchasing an additional 3,899 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of General Motors by 1,167.9% during the third quarter. Meeder Asset Management Inc. now owns 12,920 shares of the auto manufacturer's stock worth $579,000 after buying an additional 11,901 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GM shares. Hsbc Global Res cut General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Mizuho raised their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a "hold" rating to a "buy" rating and upped their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Piper Sandler upped their price objective on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.06.

General Motors Stock Up 0.7 %

Shares of General Motors stock traded up $0.33 during trading hours on Friday, hitting $49.77. The company had a trading volume of 37,623,460 shares, compared to its average volume of 12,866,566. 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's 50-day moving average is $49.02 and its two-hundred day moving average is $50.46. The company has a market cap of $49.53 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio is currently 7.80%.

General Motors declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company's stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

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.