5,581 Shares in General Motors (NYSE:GM) Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC purchased a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,581 shares of the auto manufacturer's stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Trust Point Inc. boosted its stake in General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after purchasing an additional 193 shares during the period. Allworth Financial LP increased its position in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock worth $412,000 after acquiring an additional 205 shares during the period. Avestar Capital LLC increased its position in General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after acquiring an additional 213 shares during the period. Continuum Advisory LLC boosted its holdings in 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 purchasing an additional 213 shares during the period. Finally, Holistic Planning LLC grew its position in General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm's 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 sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

General Motors Price Performance

Shares of NYSE GM traded down $0.36 during trading on Wednesday, reaching $47.77. The company had a trading volume of 6,832,460 shares, compared to its average volume of 10,818,463. General Motors has a 52 week low of $38.13 and a 52 week high of $61.24. The business's 50 day moving average price is $50.98 and its 200-day moving average price is $50.14. The stock has a market cap of $47.53 billion, a PE ratio of 7.77, a PEG ratio of 0.68 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors's payout ratio is presently 7.80%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GM shares. Barclays lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Wedbush boosted their price objective on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. HSBC lowered General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their price target on shares of General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an "underweight" rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $59.71.

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.