Belpointe Asset Management LLC Takes $494,000 Position in General Motors (NYSE:GM)

Belpointe Asset Management LLC acquired a new position in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,740 shares of the auto manufacturer’s stock, valued at approximately $494,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Highlander Capital Management LLC purchased a new stake in shares of General Motors during the 4th quarter valued at approximately $27,000. Cape Investment Advisory Inc. raised its position in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Sachetta LLC acquired a new position in shares of General Motors in the 4th quarter valued at $33,000. Bfsg LLC purchased a new position in shares of General Motors during the 4th quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup increased their target price on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Morgan Stanley increased their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Tigress Financial boosted their target price on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Wells Fargo & Company upped their price target on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their price objective on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.65.

View Our Latest Analysis on GM

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total transaction of $252,060.00. Following the completion of the sale, the chief accounting officer now owns 15,507 shares in the company, valued at approximately $651,449.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, CAO Christopher Hatto sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $42.01, for a total transaction of $252,060.00. Following the transaction, the chief accounting officer now owns 15,507 shares of the company’s stock, valued at $651,449.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The disclosure for this sale can be found here. Insiders have sold 818,038 shares of company stock worth $35,592,299 over the last three months. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of NYSE:GM opened at $45.62 on Friday. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17. The company’s 50 day moving average is $44.53 and its two-hundred day moving average is $39.53. The company has a market cap of $52.04 billion, a PE ratio of 5.58, a P/E/G ratio of 0.53 and a beta of 1.46. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 earnings per share. Equities analysts predict that General Motors will post 9.4 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

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.

See Also

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GMFree Report) (TSE:GMM.U).

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

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.