ProVise Management Group LLC Has $392,000 Position in General Motors (NYSE:GM)

ProVise Management Group LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 9.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,355 shares of the auto manufacturer’s stock after selling 800 shares during the quarter. ProVise Management Group LLC’s holdings in General Motors were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at approximately $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the third quarter valued at approximately $27,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Finally, Duncker Streett & Co. Inc. increased its stake in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GM. Mizuho upped 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 cut 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. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.89.

General Motors Price Performance

Shares of NYSE:GM opened at $49.84 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock’s 50 day moving average is $49.05 and its 200-day moving average is $50.47. The firm has a market capitalization of $49.59 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

General Motors 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.