Octavia Wealth Advisors LLC Invests $203,000 in General Motors (NYSE:GM)

Octavia Wealth Advisors LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,806 shares of the auto manufacturer’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of General Motors by 0.5% in the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after buying an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after purchasing an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after purchasing an additional 421,989 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares in the last quarter. Finally, Jennison Associates LLC lifted 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 period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 2.1 %

Shares of GM opened at $52.77 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm has a market cap of $58.03 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 0.37 and a beta of 1.42. The company’s 50-day moving average price is $53.39 and its 200 day moving average price is $49.74. General Motors has a 12-month low of $34.56 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the company posted $2.28 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that General Motors will post 10.34 earnings per share for the current year.

Insider Activity

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GM. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays lifted their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $60.05.

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.