Concurrent Investment Advisors LLC Reduces Stock Position in General Motors (NYSE:GM)

Concurrent Investment Advisors LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 16.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,816 shares of the auto manufacturer’s stock after selling 1,895 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Motors were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GM. Trust Point Inc. boosted its position in General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after acquiring an additional 193 shares during the last quarter. Allworth Financial LP boosted its position in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after acquiring an additional 205 shares during the last quarter. Avestar Capital LLC boosted its position in General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after acquiring an additional 213 shares during the last quarter. Continuum Advisory LLC boosted its position in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after acquiring an additional 213 shares during the last quarter. Finally, Holistic Planning LLC boosted its position in General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after acquiring an additional 214 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM opened at $46.55 on Tuesday. The company has a 50-day moving average of $50.57 and a 200-day moving average of $50.32. The company has a market capitalization of $46.31 billion, a P/E ratio of 7.57, a PEG ratio of 0.67 and a beta of 1.40. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GM. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.71.

General Motors Company Profile

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.