Avestar Capital LLC Buys 213 Shares of General Motors (NYSE:GM)

Avestar Capital LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,592 shares of the auto manufacturer’s stock after acquiring an additional 213 shares during the quarter. Avestar Capital LLC’s holdings in General Motors were worth $430,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP grew its position in General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after acquiring an additional 1,366,768 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of General Motors by 3,333.1% in the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after acquiring an additional 760,523 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of General Motors by 33.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,909,540 shares of the auto manufacturer’s stock valued at $135,177,000 after purchasing an additional 736,457 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, 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. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 1.3 %

General Motors stock opened at $55.50 on Thursday. The company has a market capitalization of $61.03 billion, a PE ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40. General Motors has a 12-month low of $28.33 and a 12-month high of $61.24. The firm’s fifty day moving average is $51.29 and its 200 day moving average is $47.94. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the business posted $2.28 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. General Motors’s dividend payout ratio is 5.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.92.

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.