Concurrent Investment Advisors LLC Cuts Position in General Motors (NYSE:GM)

Concurrent Investment Advisors LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,816 shares of the auto manufacturer’s stock after selling 1,895 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Motors were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. International Assets Investment Management LLC increased its position in shares of General Motors by 4,826.5% during the third quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock worth $24,629,000 after acquiring an additional 538,112 shares during the period. Allworth Financial LP increased its position in shares of General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after acquiring an additional 205 shares during the period. Forsta AP Fonden increased its position in shares of General Motors by 10.3% during the third quarter. Forsta AP Fonden now owns 233,100 shares of the auto manufacturer’s stock worth $10,452,000 after acquiring an additional 21,800 shares during the period. Arkadios Wealth Advisors increased its position in shares of General Motors by 59.8% during the third quarter. Arkadios Wealth Advisors now owns 15,066 shares of the auto manufacturer’s stock worth $676,000 after acquiring an additional 5,640 shares during the period. Finally, Boston Trust Walden Corp increased its position in shares of General Motors by 22.7% during the third quarter. Boston Trust Walden Corp now owns 7,483 shares of the auto manufacturer’s stock worth $336,000 after acquiring an additional 1,383 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of several recent analyst reports. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho increased their target price 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. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.71.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of GM opened at $46.55 on Tuesday. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The company has a market capitalization of $46.31 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The firm has a 50-day simple moving average of $50.57 and a 200-day simple moving average of $50.32. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, equities research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio (DPR) is 7.80%.

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.