General Motors (NYSE:GM) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,773 shares of the auto manufacturer’s stock after selling 1,772 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Motors were worth $1,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in General Motors during the 4th quarter worth $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors in the fourth quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the third quarter valued at about $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors in the fourth quarter valued at about $27,000. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Up 2.4 %

Shares of GM opened at $49.84 on Thursday. The stock has a market capitalization of $49.59 billion, a PE ratio of 8.10, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company’s 50-day simple moving average is $49.05 and its 200-day simple moving average is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has authorized a share repurchase 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 buy up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GM. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a report on Saturday, March 1st. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.89.

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.