WealthTrust Axiom LLC Sells 3,957 Shares of General Motors (NYSE:GM)

WealthTrust Axiom LLC lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 26.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,049 shares of the auto manufacturer’s stock after selling 3,957 shares during the quarter. WealthTrust Axiom LLC’s holdings in General Motors were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in General Motors by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares during the period. Morgan Stanley increased its stake in General Motors by 1.3% during the 3rd quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after acquiring an additional 201,080 shares during the period. Northern Trust Corp increased its stake in General Motors by 1.8% during the 3rd quarter. Northern Trust Corp now owns 13,196,412 shares of the auto manufacturer’s stock worth $435,086,000 after acquiring an additional 237,359 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of General Motors by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,768,787 shares of the auto manufacturer’s stock valued at $322,077,000 after purchasing an additional 197,750 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of General Motors by 1.7% in the 3rd quarter. LSV Asset Management now owns 8,617,870 shares of the auto manufacturer’s stock valued at $284,131,000 after purchasing an additional 144,886 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group raised their target price on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Wedbush raised their target price on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler raised their target price on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Performance

GM stock opened at $44.53 on Wednesday. The stock has a 50-day moving average price of $42.53 and a 200-day moving average price of $36.57. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The firm has a market cap of $50.81 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that General Motors will post 9.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last three months. Corporate insiders own 0.54% of the company’s stock.

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.