Ashton Thomas Private Wealth LLC Has $782,000 Stock Holdings in General Motors (NYSE:GM)

Ashton Thomas Private Wealth LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,681 shares of the auto manufacturer’s stock after selling 1,811 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in General Motors were worth $782,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GM. Van ECK Associates Corp lifted its position in shares of General Motors by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after purchasing an additional 2,015 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of General Motors by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer’s stock worth $56,861,000 after purchasing an additional 13,206 shares during the last quarter. Summit Global Investments lifted its position in shares of General Motors by 81.4% during the 3rd quarter. Summit Global Investments now owns 9,336 shares of the auto manufacturer’s stock worth $419,000 after purchasing an additional 4,188 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of General Motors during the 3rd quarter worth about $37,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of General Motors during the 3rd quarter worth about $235,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. Mizuho raised their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.22.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.4 %

GM stock opened at $47.39 on Monday. The business has a fifty day moving average price of $49.70 and a 200 day moving average price of $50.50. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The stock has a market capitalization of $47.16 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

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

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors announced that its board has approved a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.