Meridian Wealth Management LLC Has $474,000 Stock Position in General Motors (NYSE:GM)

Meridian Wealth Management LLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,036 shares of the auto manufacturer’s stock after selling 362 shares during the period. Meridian Wealth Management LLC’s holdings in General Motors were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Silver Coast Investments LLC acquired a new stake in General Motors during the fourth quarter valued at $204,000. Plato Investment Management Ltd raised its holdings in General Motors by 1.2% during the fourth quarter. Plato Investment Management Ltd now owns 47,516 shares of the auto manufacturer’s stock valued at $2,540,000 after buying an additional 580 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in General Motors during the fourth quarter valued at about $422,000. Jones Financial Companies Lllp raised its holdings in General Motors by 42.6% during the fourth quarter. Jones Financial Companies Lllp now owns 34,490 shares of the auto manufacturer’s stock valued at $1,837,000 after buying an additional 10,308 shares in the last quarter. Finally, Modera Wealth Management LLC bought a new position in General Motors during the fourth quarter valued at about $214,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Wednesday, December 11th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $59.71.

General Motors Trading Up 7.2 %

Shares of GM opened at $48.48 on Thursday. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $48.24 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.67 and a beta of 1.42. The stock’s 50-day moving average price is $49.98 and its 200 day moving average price is $50.45.

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.