HighPoint Advisor Group LLC Sells 7,590 Shares of General Motors (NYSE:GM)

HighPoint Advisor Group LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 29.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,129 shares of the auto manufacturer’s stock after selling 7,590 shares during the period. HighPoint Advisor Group LLC’s holdings in General Motors were worth $966,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GM. Golden State Wealth Management LLC bought a new position in General Motors in the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the 4th quarter worth approximately $26,000. Compass Planning Associates Inc bought a new position in shares of General Motors during the 4th quarter worth approximately $27,000. Duncker Streett & Co. Inc. lifted its position in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 425 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, 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 SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GM. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Cowen assumed coverage on General Motors in a research report on Thursday, March 6th. They set a “buy” rating on the stock. The Goldman Sachs Group set a $73.00 price target on General Motors in a report on Saturday, March 1st. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average target price of $62.11.

General Motors Stock Performance

Shares of GM stock opened at $47.18 on Wednesday. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $46.94 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The business has a 50-day simple moving average of $48.68 and a 200-day simple moving average of $50.62.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that General Motors will post 11.44 EPS for the current year.

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

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 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.