AdvisorNet Financial Inc Sells 3,888 Shares of General Motors (NYSE:GM)

AdvisorNet Financial Inc reduced its position in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 36.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,794 shares of the auto manufacturer’s stock after selling 3,888 shares during the quarter. AdvisorNet Financial Inc’s holdings in General Motors were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weik Capital Management increased its position in General Motors by 3.1% during the 1st quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after purchasing an additional 275 shares during the period. RFG Advisory LLC increased its position in General Motors by 5.4% during the 4th quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after purchasing an additional 281 shares during the period. Penserra Capital Management LLC increased its position in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 283 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in General Motors by 2.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock valued at $557,000 after purchasing an additional 294 shares during the period. Finally, Pacifica Partners Inc. increased its position in General Motors by 10.1% during the 4th quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after purchasing an additional 301 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares in the company, valued at approximately $544,800.32. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wedbush upped their target price on shares of General Motors from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Redburn Atlantic initiated coverage on shares of General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price on the stock. Mizuho upped their target price on shares of General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, Tigress Financial upped their target price on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.63.

Check Out Our Latest Research Report on General Motors

General Motors Price Performance

GM opened at $44.89 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market capitalization of $51.82 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.56 and a beta of 1.51. The company’s 50-day simple moving average is $39.88 and its two-hundred day simple moving average is $34.79. General Motors has a 52-week low of $26.30 and a 52-week high of $45.73.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.08. The business had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 EPS. As a group, analysts predict that General Motors will post 9 EPS for the current year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio is 6.57%.

General Motors Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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