Simplicity Wealth LLC Reduces Position in General Motors (NYSE:GM)

Simplicity Wealth LLC cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 52.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,881 shares of the auto manufacturer’s stock after selling 4,329 shares during the period. Simplicity Wealth LLC’s holdings in General Motors were worth $207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new stake in General Motors in the 4th quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in General Motors in the 3rd quarter valued at about $27,000. Compass Planning Associates Inc purchased a new stake in General Motors in the 4th quarter valued at about $27,000. Finally, Duncker Streett & Co. Inc. boosted its position in General Motors by 9,960.0% in the 4th 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. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GM. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Cowen started coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Trading Up 0.5 %

Shares of General Motors stock opened at $48.32 on Wednesday. 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 $38.94 and a 12-month high of $61.24. The firm has a market capitalization of $48.08 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.67 and a beta of 1.42. The firm’s 50 day simple moving average is $49.49 and its two-hundred day simple moving average is $50.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 net margin of 3.21% and a return on equity of 15.29%. Analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. 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.