Kestra Private Wealth Services LLC Cuts Stake in General Motors (NYSE:GM)

Kestra Private Wealth Services LLC cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 67.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,713 shares of the auto manufacturer’s stock after selling 66,542 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in General Motors were worth $1,175,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pacifica Partners Inc. boosted its position in shares of General Motors by 10.1% during the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after buying an additional 301 shares during the last quarter. RWA Wealth Partners LLC grew its stake in shares of General Motors by 5.0% in the fourth quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock worth $242,000 after acquiring an additional 319 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of General Motors by 6.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,481 shares of the auto manufacturer’s stock valued at $233,000 after purchasing an additional 404 shares during the last quarter. Graypoint LLC lifted its position in General Motors by 2.8% during the fourth quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock valued at $589,000 after purchasing an additional 447 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in General Motors by 12.5% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,119 shares of the auto manufacturer’s stock worth $148,000 after purchasing an additional 458 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. 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 ninety days. 0.54% of the stock is owned by company insiders.

General Motors Stock Performance

GM stock opened at $44.86 on Friday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17. The firm has a market cap of $51.18 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 0.52 and a beta of 1.49. The business’s fifty day simple moving average is $42.74 and its two-hundred day simple moving average is $36.69. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.21 EPS. Analysts predict that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Wall Street Analyst Weigh In

GM has been the topic of several recent research reports. Sanford C. Bernstein began coverage on shares of General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective on the stock. Redburn Atlantic began coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective for the company. Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wedbush lifted their price target on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group increased their price objective on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors 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.