Nisa Investment Advisors LLC cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,262 shares of the auto manufacturer’s stock after selling 12,000 shares during the period. Nisa Investment Advisors LLC’s holdings in General Motors were worth $16,653,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GM. YorkBridge Wealth Partners LLC raised its holdings in shares of General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of General Motors during the 3rd quarter worth approximately $119,000. Ropes Wealth Advisors LLC raised its holdings in shares of General Motors by 240.2% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after acquiring an additional 3,248 shares in the last quarter. Fayez Sarofim & Co. purchased a new stake in shares of General Motors during the 3rd quarter worth approximately $202,000. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of General Motors during the 3rd quarter worth approximately $203,000. 73.01% of the stock is currently owned by institutional investors.
GM has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $43.00 price objective (up from $40.00) on shares of General Motors in a report on Thursday, September 21st. Deutsche Bank raised General Motors from a “hold” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $51.00 in a report on Monday, September 25th. Citigroup reaffirmed a “buy” rating and set a $53.00 price objective on shares of General Motors in a report on Monday, October 2nd. Bank of America raised General Motors from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $57.00 in a report on Tuesday, October 3rd. Finally, Instinet reaffirmed a “buy” rating and set a $43.00 price objective on shares of General Motors in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $44.29.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. analysts forecast that General Motors will post 6.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Friday, December 8th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, December 7th. General Motors’s dividend payout ratio is currently 32.90%.
In other General Motors news, insider Mark L. Reuss sold 30,000 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $43.09, for a total value of $1,292,700.00. Following the transaction, the insider now owns 103,052 shares of the company’s stock, valued at approximately $4,440,510.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nysschen Carel J. De sold 123,645 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the transaction, the executive vice president now directly owns 150,484 shares in the company, valued at approximately $6,710,081.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 552,298 shares of company stock worth $24,408,137. Corporate insiders own 0.04% of the company’s stock.
General Motors Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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