B. Riley Wealth Advisors Inc. Sells 3,065 Shares of General Motors (NYSE:GM)

B. Riley Wealth Advisors Inc. lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,220 shares of the auto manufacturer’s stock after selling 3,065 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in General Motors were worth $997,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the second quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors in the 3rd quarter worth approximately $27,000. Truvestments Capital LLC bought a new stake in General Motors during the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors in the second quarter worth $28,000. Finally, EdgeRock Capital LLC purchased a new stake in General Motors during the 2nd quarter worth about $33,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GM has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday. Wolfe Research initiated coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $58.70.

General Motors Stock Performance

Shares of GM opened at $51.14 on Wednesday. General Motors has a one year low of $34.32 and a one year high of $61.24. The firm has a market capitalization of $56.23 billion, a PE ratio of 5.45, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The company has a 50-day simple moving average of $53.23 and a two-hundred day simple moving average of $48.83. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 earnings per share. On average, analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 in the last three months. 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.