ProVise Management Group LLC Purchases 5,650 Shares of General Motors (NYSE:GM)

ProVise Management Group LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 80.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,716 shares of the auto manufacturer’s stock after purchasing an additional 5,650 shares during the quarter. ProVise Management Group LLC’s holdings in General Motors were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GM. SouthState Corp boosted its holdings in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. Highlander Capital Management LLC acquired a new position in shares of General Motors in the 4th quarter worth approximately $27,000. Sachetta LLC acquired a new position in shares of General Motors in the 4th quarter worth approximately $33,000. Bfsg LLC acquired a new position in shares of General Motors in the 4th quarter worth approximately $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of General Motors in the 4th quarter worth approximately $36,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GM shares. Mizuho boosted their target price on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Sanford C. Bernstein assumed coverage on General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price objective on the stock. Morgan Stanley upped their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Friday. Finally, Royal Bank of Canada upped their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Trading Up 0.9 %

Shares of General Motors stock traded up $0.38 on Friday, hitting $44.11. 7,373,009 shares of the company’s stock traded hands, compared to its average volume of 11,011,397. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a one year low of $26.30 and a one year high of $46.17. The firm’s 50-day moving average price is $44.30 and its two-hundred day moving average price is $38.54. The stock has a market capitalization of $50.33 billion, a PE ratio of 5.39, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data 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 net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that General Motors will post 9.4 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed 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 dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the sale, 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 filing with the SEC, which is available through this link. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the 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 filing with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold a total of 72,422 shares of company stock worth $3,085,372 in the last quarter. Corporate insiders own 0.72% 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.