Virginia National Bank purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,125 shares of the auto manufacturer’s stock, valued at approximately $376,000.
A number of other large investors also recently modified their holdings of GM. Signet Investment Advisory Group Inc. bought a new position in shares of General Motors in the 4th quarter worth about $26,000. NuWave Investment Management LLC grew its stake in shares of General Motors by 198.6% in the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 588 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of General Motors by 63.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 346 shares during the period. Advisors Preferred LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $31,000. Finally, Liberty Wealth Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $30,000. 77.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Christopher Hatto sold 8,499 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $40.00, for a total value of $339,960.00. Following the sale, the vice president now directly owns 10,040 shares of the company’s stock, valued at approximately $401,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan S. Batey sold 70,266 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $38.39, for a total transaction of $2,697,511.74. Following the completion of the sale, the insider now directly owns 205,906 shares in the company, valued at $7,904,731.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,521 shares of company stock valued at $4,337,346. 0.39% of the stock is currently owned by company insiders.
A number of research firms have issued reports on GM. Zacks Investment Research downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Seaport Global Securities began coverage on shares of General Motors in a research report on Wednesday, February 13th. They set a “buy” rating on the stock. Citigroup lifted their target price on shares of General Motors to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 8th. Royal Bank of Canada lifted their price target on shares of General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 7th. Finally, Barclays reaffirmed a “buy” rating and issued a $49.00 price target on shares of General Motors in a report on Monday, January 14th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $47.20.
NYSE GM traded up $0.45 on Wednesday, reaching $40.11. The company had a trading volume of 2,440,250 shares, compared to its average volume of 7,044,005. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market cap of $55.77 billion, a P/E ratio of 6.13, a P/E/G ratio of 0.69 and a beta of 1.27. General Motors has a 12 month low of $30.56 and a 12 month high of $45.00.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. The business had revenue of $38.40 billion during the quarter, compared to analyst estimates of $36.31 billion. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, analysts forecast that General Motors will post 6.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.79%. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
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General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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