Westside Investment Management Inc. Sells 800 Shares of General Motors (NYSE:GM)

Westside Investment Management Inc. cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 18.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,428 shares of the auto manufacturer’s stock after selling 800 shares during the period. Westside Investment Management Inc.’s holdings in General Motors were worth $155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC bought a new stake in General Motors in the 1st quarter valued at $493,000. Denali Advisors LLC lifted its position in shares of General Motors by 6.5% during the 1st quarter. Denali Advisors LLC now owns 18,100 shares of the auto manufacturer’s stock valued at $821,000 after acquiring an additional 1,100 shares during the period. Quattro Financial Advisors LLC lifted its position in shares of General Motors by 49,900.0% during the 1st quarter. Quattro Financial Advisors LLC now owns 18,000 shares of the auto manufacturer’s stock valued at $816,000 after acquiring an additional 17,964 shares during the period. MV Capital Management Inc. lifted its position in shares of General Motors by 35.3% during the 1st quarter. MV Capital Management Inc. now owns 1,101 shares of the auto manufacturer’s stock valued at $50,000 after acquiring an additional 287 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of General Motors by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,536,428 shares of the auto manufacturer’s stock valued at $69,677,000 after acquiring an additional 129,128 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GM has been the subject of a number of recent analyst reports. Citigroup upped their target price on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley upped their target price on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Mizuho upped their target price on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group boosted their price target on General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.91.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Down 0.6 %

Shares of General Motors stock opened at $46.68 on Thursday. The stock’s 50-day moving average is $45.70 and its 200 day moving average is $41.61. The firm has a market cap of $53.26 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 0.50 and a beta of 1.43. 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 $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share. Equities research analysts anticipate that General Motors will post 9.43 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.