Miracle Mile Advisors LLC Boosts Position in General Motors (NYSE:GM)

Miracle Mile Advisors LLC grew its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 113.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,459 shares of the auto manufacturer's stock after acquiring an additional 5,549 shares during the quarter. Miracle Mile Advisors LLC's holdings in General Motors were worth $557,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GM. Allworth Financial LP lifted its stake in shares of General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock valued at $412,000 after purchasing an additional 205 shares during the last quarter. Avestar Capital LLC grew its stake in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock valued at $430,000 after buying an additional 213 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock valued at $131,000 after buying an additional 213 shares during the period. Metis Global Partners LLC lifted its stake in General Motors by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer's stock worth $1,625,000 after acquiring an additional 230 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in General Motors by 2.1% during the 2nd quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer's stock valued at $540,000 after acquiring an additional 238 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The stock was 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 owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last 90 days. Company insiders own 0.72% of the company's stock.

General Motors Stock Performance

GM stock traded up $0.10 during trading on Thursday, hitting $51.80. The company had a trading volume of 6,413,035 shares, compared to its average volume of 8,208,579. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The firm has a 50-day moving average price of $53.76 and a 200-day moving average price of $49.58. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $56.96 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 earnings per share. On average, analysts expect that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.93%. General Motors's dividend payout ratio is currently 5.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GM shares. Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. DZ Bank cut General Motors from a "buy" rating to a "hold" rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. The Goldman Sachs Group upped their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Morgan Stanley upgraded shares of General Motors from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, HSBC downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price objective on the stock. in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $59.68.

General Motors Company 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.