Arete Wealth Advisors LLC Sells 368 Shares of General Motors (NYSE:GM)

Arete Wealth Advisors LLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,484 shares of the auto manufacturer’s stock after selling 368 shares during the quarter. Arete Wealth Advisors LLC’s holdings in General Motors were worth $239,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $592,321,000. Amundi boosted its position in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC increased its holdings in shares of General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of General Motors in the fourth quarter valued at about $108,366,000. Finally, National Bank of Canada FI lifted its stake in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after buying an additional 1,332,450 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 3.7 %

NYSE GM opened at $44.22 on Monday. The firm has a market capitalization of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The business’s 50-day moving average price is $48.22 and its two-hundred day moving average price is $50.58. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.09%. General Motors’s payout ratio is 7.80%.

General Motors declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GM shares. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Motors currently has an average rating of “Hold” and a consensus target price of $62.11.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

About General Motors

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.