General Motors (NYSE:GM) Stake Decreased by Sterneck Capital Management LLC

Sterneck Capital Management LLC trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 40.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,349 shares of the auto manufacturer’s stock after selling 3,694 shares during the quarter. Sterneck Capital Management LLC’s holdings in General Motors were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors in the third quarter worth about $27,000. Truvestments Capital LLC acquired a new stake in General Motors in the third quarter worth about $27,000. Eastern Bank acquired a new position in General Motors during the 3rd quarter valued at about $34,000. Finally, Fairscale Capital LLC acquired a new position in General Motors during the 2nd quarter valued at about $36,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

GM opened at $52.00 on Wednesday. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $57.18 billion, a P/E ratio of 5.54, a PEG ratio of 0.40 and a beta of 1.42. The stock has a fifty day moving average of $53.96 and a 200-day moving average of $49.42.

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, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period last year, the company posted $2.28 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Wedbush boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.58.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by insiders.

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.